| Market Cap | $10.73B | |
| Enterprise Value | — | |
| Revenue | $3.86B | +10.8% |
| Gross Profit | $2.83B | +8.5% |
| EBITDA | $672.0M | +8.1% |
| Net Income | $485.0M | −2.2% |
| Diluted EPS | $1.60 | +1.3% |
| Free Cash Flow | $882.0M | +46.1% |
| Ratio | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 5y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||
| Gross Margin | 66.85% | 71.78% | 74.88% | 75.25% | 73.70% | 50% | 95% | |
| Operating Margin | −4.69% | 2.43% | −70.41% | 14.48% | 13.31% | 70% | 77% | |
| EBITDA Margin | −3.82% | 3.76% | −69.00% | 16.13% | 15.74% | 70% | 67% | |
| NOPAT Margin | −3.70% | 2.43% | −55.63% | 11.98% | 10.70% | 70% | 76% | |
| Net Margin | −3.98% | 16.78% | −53.32% | 13.53% | 11.95% | 50% | 83% | |
| FCF Margin | −11.83% | 9.92% | 17.49% | 18.44% | 24.32% | 90% | 94% | |
| OCF Margin | −11.12% | 10.86% | 19.26% | 20.34% | 25.95% | 90% | 89% | |
| Gross Profitability | — | 49.90% | 48.19% | 61.77% | 74.80% | 88% | 98% | |
| Capex Intensity | 0.71% | 0.94% | 1.78% | 1.89% | 1.63% | 50% | 38% | |
| ▸Returns on Capital · 3 ratios | ||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||
| ▸Earnings quality · 6 ratios | ||||||||
| ▸Liquidity & coverage · 2 ratios | ||||||||
| ▸Leverage · 2 ratios | ||||||||
| ▸Working capital · 5 ratios | ||||||||
| ▸Capital allocation · 2 ratios | ||||||||
| ▸Per share · 6 ratios | ||||||||
| ▸Other · 1 ratios | ||||||||
The five drivers multiply to 16.8% vs reported ROE 15.9%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|
| Revenue | $1.83B | $2.55B | $3.04B | $3.38B | $3.74B |
| YoY % | +39.1% | +19.2% | +11.0% | +10.8% | |
| Cost of Revenue | $608.0M | $720.0M | $764.0M | $836.0M | $984.0M |
| YoY % | +18.4% | +6.1% | +9.4% | +17.7% | |
| Gross Profit | $1.23B | $1.83B | $2.28B | $2.54B | $2.76B |
| YoY % | +49.3% | +24.4% | +11.6% | +8.5% | |
| R&D Expense | $368.0M | $518.0M | $2.31B | $604.0M | $650.0M |
| YoY % | +40.8% | +346.3% | -73.9% | +7.6% | |
| Selling & Marketing Expense | $394.0M | $660.0M | $961.0M | $808.0M | $854.0M |
| YoY % | +67.5% | +45.6% | -15.9% | +5.7% | |
| SG&A Expense | $288.0M | $339.0M | $803.0M | $363.0M | $482.0M |
| YoY % | +17.7% | +136.9% | -54.8% | +32.8% | |
| Total Operating Expenses | $1.31B | $1.77B | $4.42B | $2.05B | $2.26B |
| YoY % | +34.8% | +149.9% | -53.6% | +10.0% | |
| Operating Income | -$86.0M | $62.0M | -$2.14B | $489.0M | $498.0M |
| YoY % | +1.8% | ||||
| Other Non-Operating Income | $12.0M | -$8.0M | $0 | -$3.0M | $1.0M |
| Impairment of Real Estate | — | — | $0 | $0 | $21.0M |
| Pretax Income | -$72.0M | $71.0M | -$2.06B | $552.0M | $556.0M |
| YoY % | +0.7% | ||||
| Income Tax | $1.0M | -$357.0M | -$439.0M | $95.0M | $109.0M |
| YoY % | +14.7% | ||||
| Net Income | -$73.0M | $428.0M | -$1.62B | $457.0M | $447.0M |
| YoY % | -2.2% | ||||
| Net Income to Common | -$73.0M | $77.0M | -$1.62B | $448.0M | $438.0M |
| YoY % | -2.2% | ||||
| EPS (Basic) | -$1.12 | $1.08 | -$12.43 | $1.69 | $1.68 |
| YoY % | -0.6% | ||||
| EPS (Diluted) | -$1.12 | $0.96 | -$12.43 | $1.58 | $1.60 |
| YoY % | +1.3% | ||||
| Weighted Avg Shares (Basic) | 65.9M | 71.9M | 130.6M | 264.6M | 261.4M |
| YoY % | +9.1% | +81.8% | +102.6% | -1.2% | |
| Weighted Avg Shares (Diluted) | 65.9M | 101.5M | 130.6M | 289.2M | 279.6M |
| YoY % | +54.1% | +28.7% | +121.4% | -3.3% |
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.
