| Market Cap | $9.92B | |
| Enterprise Value | — | |
| Revenue | $12.84B | +6.2% |
| Gross Profit | $3.84B | +8.3% |
| EBITDA | $442.2M | +68.8% |
| Net Income | $255.2M | −43.3% |
| Diluted EPS | $0.52 | −42.9% |
| Free Cash Flow | $584.5M | +24.3% |
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend · 9y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||||
| Gross Margin | 17.47% | 20.23% | 23.60% | 25.48% | 26.60% | 28.01% | 28.36% | 29.24% | 29.79% | 94% | 43% | |
| Operating Margin | −16.06% | −7.58% | −5.21% | −1.27% | −0.82% | 0.56% | −0.21% | 0.95% | 2.02% | 94% | 37% | |
| EBITDA Margin | −15.46% | −6.92% | −4.58% | −0.77% | −0.20% | 1.38% | 0.77% | 1.92% | 3.04% | 94% | 30% | |
| NOPAT Margin | −12.68% | −5.99% | −4.12% | −1.00% | −0.65% | 0.53% | −0.17% | 0.95% | 1.71% | 94% | 37% | |
| Net Margin | −16.07% | −7.58% | −5.21% | −1.29% | −0.84% | 0.49% | 0.36% | 3.31% | 1.77% | 83% | 45% | |
| FCF Margin | −5.70% | −1.63% | −0.04% | 0.03% | 0.10% | 1.18% | 3.08% | 3.81% | 4.46% | 94% | 54% | |
| FCFF Margin | — | — | — | — | — | — | 3.10% | 3.86% | 4.49% | 83% | 40% | |
| OCF Margin | −3.79% | −0.38% | 0.96% | 1.86% | 2.14% | 3.46% | 4.36% | 5.03% | 5.49% | 94% | 43% | |
| Gross Profitability | — | 131.97% | 122.71% | 104.59% | 114.34% | 112.49% | 99.20% | 115.03% | 111.51% | 31% | 95% | |
| Capex Intensity | 1.91% | 1.25% | 1.00% | 1.83% | 2.04% | 2.28% | 1.29% | 1.21% | 1.03% | 17% | 23% | |
| ▸Returns on Capital · 3 ratios | ||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||||
| ▸Liquidity & coverage · 6 ratios | ||||||||||||
| ▸Leverage · 2 ratios | ||||||||||||
| ▸Working capital · 5 ratios | ||||||||||||
| ▸Capital allocation · 2 ratios | ||||||||||||
| ▸Per share · 6 ratios | ||||||||||||
| ▸Other · 1 ratios | ||||||||||||
The five drivers multiply to 47.2% vs reported ROE 58.7%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ | 2026↗ |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.10B | $3.53B | $4.85B | $7.15B | $8.97B | $10.12B | $11.15B | $11.86B | $12.60B |
| YoY % | +67.9% | +37.2% | +47.4% | +25.5% | +12.8% | +10.2% | +6.4% | +6.2% | |
| Cost of Revenue | $1.74B | $2.82B | $3.70B | $5.33B | $6.58B | $7.28B | $7.99B | $8.39B | $8.85B |
| YoY % | +62.3% | +31.4% | +43.8% | +23.6% | +10.7% | +9.6% | +5.1% | +5.4% | |
| Gross Profit | $367.6M | $714.8M | $1.14B | $1.82B | $2.39B | $2.83B | $3.16B | $3.47B | $3.75B |
| YoY % | +94.5% | +60.1% | +59.2% | +31.0% | +18.8% | +11.5% | +9.7% | +8.3% | |
| SG&A Expense | $451.7M | $589.5M | $969.9M | $1.40B | $1.84B | $2.13B | $2.44B | $2.55B | $2.67B |
| YoY % | +30.5% | +64.5% | +44.1% | +31.6% | +15.7% | +14.8% | +4.4% | +4.8% | |
| Total Operating Expenses | $705.4M | $982.6M | $1.40B | $1.91B | $2.46B | $2.78B | $3.19B | $3.36B | $3.50B |
| YoY % | +39.3% | +42.2% | +36.8% | +28.7% | +13.0% | +14.7% | +5.3% | +4.3% | |
| Operating Income | -$337.9M | -$267.8M | -$252.7M | -$90.5M | -$73.6M | $56.4M | -$23.6M | $112.6M | $254.3M |
| YoY % | +125.8% | ||||||||
| Interest Expense | — | — | — | — | — | — | $3.6M | $5.5M | $4.6M |
| YoY % | +52.8% | -16.4% | |||||||
| Interest & Investment Income | — | — | — | $146,000 | $523,000 | $11.9M | $62.1M | $40.6M | $19.8M |
| YoY % | +258.2% | +2168.6% | +423.4% | -34.6% | -51.2% | ||||
| Other Non-Operating Income | — | — | — | $0 | $0 | -$13.2M | $13.4M | $4.0M | -$6.2M |
| YoY % | -70.1% | ||||||||
| Impairment of Real Estate | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Pretax Income | -$338.1M | -$267.9M | -$252.4M | -$92.5M | -$75.2M | $52.5M | $48.3M | $151.7M | $263.3M |
| YoY % | -8.1% | +214.1% | +73.6% | ||||||
| Income Tax | $0 | $0 | $0 | $0 | $0 | $2.6M | $8.7M | -$241.0M | $40.5M |
| YoY % | +228.8% | ||||||||
| Net Income | -$338.1M | -$267.9M | -$252.4M | -$92.5M | -$75.2M | $49.9M | $39.6M | $392.7M | $222.8M |
| YoY % | -20.6% | +891.7% | -43.3% | ||||||
| Net Income to Common | -$699.6M | -$267.9M | -$252.4M | — | — | — | — | — | — |
| EPS (Basic) | — | — | -$0.63 | -$0.23 | -$0.18 | $0.12 | $0.09 | $0.93 | $0.54 |
| YoY % | -25.0% | +933.3% | -41.9% | ||||||
| EPS (Diluted) | — | — | -$0.63 | -$0.23 | -$0.18 | $0.12 | $0.09 | $0.91 | $0.52 |
| YoY % | -25.0% | +911.1% | -42.9% | ||||||
| Weighted Avg Shares (Basic) | — | — | 398.3M | 407.2M | 417.2M | 422.3M | 429.4M | 421.4M | 414.1M |
| YoY % | +2.3% | +2.5% | +1.2% | +1.7% | -1.9% | -1.7% | |||
| Weighted Avg Shares (Diluted) | — | — | 398.3M | 407.2M | 417.2M | 427.8M | 432.0M | 431.0M | 425.8M |
| YoY % | +2.3% | +2.5% | +2.5% | +1.0% | -0.2% | -1.2% |
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.
