| Market Cap | $28.12B | |
| Enterprise Value | $22.44B | |
| Revenue | $35.13B | +14.1% |
| Gross Profit | $10.12B | +14.8% |
| EBITDA | $615.0M | +13.9% |
| Net Income | -$165.0M | +35.1% |
| Diluted EPS | $0.11 | +37.5% |
| Free Cash Flow | $295.0M | −48.2% |
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 7y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||
| Gross Margin | 16.47% | 16.60% | 16.03% | 22.88% | 25.39% | 29.18% | 29.37% | 93% | 41% | |
| Operating Margin | −10.23% | −4.31% | −8.12% | −0.54% | 1.94% | 1.44% | 1.37% | 64% | 34% | |
| EBITDA Margin | −9.10% | −3.25% | −7.02% | 0.58% | 3.07% | 2.87% | 2.87% | 64% | 29% | |
| NOPAT Margin | −8.08% | −3.41% | −6.41% | −0.43% | 1.94% | 0.20% | 0.49% | 79% | 29% | |
| Net Margin | −11.11% | −3.87% | −8.38% | −0.45% | 5.58% | 0.51% | 0.60% | 79% | 35% | |
| FCF Margin | −8.44% | −1.53% | −5.89% | −1.26% | 7.20% | 3.33% | 1.51% | 64% | 33% | |
| FCFF Margin | — | — | — | — | 7.40% | 3.39% | 1.60% | 17% | 17% | |
| FCFE Margin | −8.01% | −0.64% | −4.59% | −0.88% | — | — | — | — | — | |
| OCF Margin | −4.97% | 2.52% | −2.23% | 2.74% | 10.88% | 6.23% | 5.13% | 64% | 41% | |
| Gross Profitability | — | 39.20% | 34.15% | 49.51% | 46.38% | 57.55% | 57.01% | 75% | 78% | |
| Capex Intensity | 3.47% | 4.05% | 3.66% | 4.00% | 3.67% | 2.90% | 3.62% | 36% | 68% | |
| ▸Returns on Capital · 4 ratios | ||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||
| ▸Liquidity & coverage · 9 ratios | ||||||||||
| ▸Leverage · 8 ratios | ||||||||||
| ▸Working capital · 8 ratios | ||||||||||
| ▸Capital allocation · 2 ratios | ||||||||||
| ▸Per share · 3 ratios | ||||||||||
| ▸Other · 1 ratios | ||||||||||
The five drivers multiply to 4.8% vs reported ROE 4.8%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|
| Revenue | $6.27B | $11.97B | $18.41B | $20.58B | $24.38B | $30.27B | $34.53B |
| YoY % | +90.8% | +53.8% | +11.8% | +18.5% | +24.1% | +14.1% | |
| Cost of Revenue | $5.24B | $9.98B | $15.46B | $15.87B | $18.19B | $21.44B | $24.39B |
| YoY % | +90.5% | +54.8% | +2.7% | +14.6% | +17.8% | +13.8% | |
| Gross Profit | — | — | — | $4.71B | $6.19B | $8.83B | $10.14B |
| YoY % | +31.4% | +42.7% | +14.8% | ||||
| SG&A Expense | $1.68B | $2.50B | $4.45B | $4.82B | $5.72B | $8.39B | $9.67B |
| YoY % | +49.4% | +77.6% | +8.5% | +18.6% | +46.8% | +15.2% | |
| Total Operating Expenses | $6.92B | $12.48B | $19.90B | $20.70B | $23.91B | $29.83B | $34.06B |
| YoY % | +80.5% | +59.4% | +4.0% | +15.5% | +24.8% | +14.2% | |
| Operating Income | -$641.9M | -$516.0M | -$1.49B | -$112.0M | $473.0M | $436.0M | $473.0M |
| YoY % | -7.8% | +8.5% | |||||
| Interest Expense | — | — | — | $27.0M | $48.0M | $140.0M | $86.0M |
| YoY % | +77.8% | +191.7% | -38.6% | ||||
| Interest & Investment Income | — | — | $9.0M | $53.0M | $178.0M | $216.0M | $199.0M |
| YoY % | +488.9% | +235.8% | +21.3% | -7.9% | |||
| Other Non-Operating Income | $22.6M | $149.9M | -$12.0M | -$7.0M | -$19.0M | -$39.0M | $11.0M |
| YoY % | +564.2% | ||||||
| Impairment of Real Estate | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Pretax Income | -$697.1M | -$462.9M | -$1.54B | -$93.0M | $584.0M | $473.0M | $597.0M |
| YoY % | -19.0% | +26.2% | |||||
| Income Tax | -$241,000 | $292,000 | $1.0M | -$1.0M | -$776.0M | $407.0M | $383.0M |
| YoY % | +242.5% | -5.9% | |||||
| Net Income (incl. NCI) | — | — | — | -$92.0M | $1.36B | $66.0M | $214.0M |
| YoY % | -95.1% | +224.2% | |||||
| Minority Interest (P&L) | — | — | — | $0 | $0 | -$88.0M | $6.0M |
| Net Income | -$696.9M | -$463.2M | -$1.54B | -$92.0M | $1.36B | $154.0M | $208.0M |
| YoY % | -88.7% | +35.1% | |||||
| Net Income to Common | -$768.3M | -$555.9M | -$1.54B | -$92.0M | — | — | — |
| Preferred Dividends | $71.4M | $92.7M | $0 | $0 | — | — | — |
| YoY % | +29.9% | -100.0% | |||||
| EPS (Basic) | -$39.48 | -$19.16 | -$1.08 | -$0.05 | $0.76 | $0.09 | $0.11 |
| YoY % | -88.2% | +22.2% | |||||
| EPS (Diluted) | -$39.48 | -$19.16 | -$1.08 | -$0.05 | $0.75 | $0.08 | $0.11 |
| YoY % | -89.3% | +37.5% | |||||
| Weighted Avg Shares (Basic) | 19.5M | 29.0M | 1.42B | 1.76B | 1.78B | 1.79B | 1.82B |
| YoY % | +49.1% | +4808.3% | +23.9% | +1.0% | +0.7% | +1.3% | |
| Weighted Avg Shares (Diluted) | 19.5M | 29.0M | 1.42B | 1.76B | 1.80B | 1.83B | 1.85B |
| YoY % | +49.1% | +4808.3% | +23.9% | +2.2% | +1.3% | +1.6% |
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.
