| Market Cap | $33.09B | |
| Enterprise Value | — | |
| Revenue | $1.34B | +205.7% |
| Gross Profit | $908.3M | +221.1% |
| EBITDA | $479.6M | +712.1% |
| Net Income | $472.3M | +805.0% |
| Diluted EPS | $2.51 | +765.5% |
| Free Cash Flow | $407.0M | +1302.4% |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend · 7y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||
| Gross Margin | 85.64% | 65.21% | 60.12% | 57.65% | 61.89% | 64.77% | 68.04% | 79% | 72% | |
| Operating Margin | 3.85% | −42.99% | −20.63% | −11.53% | −19.20% | 8.50% | 33.33% | 93% | 97% | |
| EBITDA Margin | 7.21% | −39.21% | −16.13% | −6.36% | −12.07% | 13.52% | 35.93% | 93% | 94% | |
| NOPAT Margin | 2.44% | −33.96% | −16.30% | −9.11% | −15.17% | 8.08% | 33.11% | 93% | 98% | |
| Net Margin | 2.47% | −46.87% | −20.83% | −8.98% | −14.70% | 11.95% | 35.37% | 93% | 95% | |
| FCF Margin | −35.45% | −82.49% | −45.47% | −25.15% | 8.85% | 6.64% | 30.48% | 93% | 92% | |
| OCF Margin | −19.05% | −72.17% | −28.96% | −13.36% | 16.96% | 14.90% | 34.78% | 93% | 93% | |
| Gross Profitability | — | 24.62% | 17.04% | 26.73% | 19.84% | 34.96% | 39.57% | 92% | 71% | |
| Capex Intensity | 16.41% | 10.32% | 16.51% | 11.79% | 8.11% | 8.26% | 4.29% | 7% | 72% | |
| ▸Returns on Capital · 3 ratios | ||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||
| ▸Liquidity & coverage · 3 ratios | ||||||||||
| ▸Leverage · 2 ratios | ||||||||||
| ▸Working capital · 8 ratios | ||||||||||
| ▸Capital allocation · 1 ratios | ||||||||||
| ▸Per share · 6 ratios | ||||||||||
| ▸Other · 1 ratios | ||||||||||
The five drivers multiply to 33.8% vs reported ROE 34.4%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ | 2026↗ |
|---|---|---|---|---|---|---|---|
| Revenue | $53.8M | $58.7M | $106.5M | $184.2M | $193.0M | $436.8M | $1.34B |
| YoY % | +9.0% | +81.4% | +73.0% | +4.8% | +126.3% | +205.7% | |
| Cost of Revenue | $7.7M | $20.4M | $42.5M | $78.0M | $73.5M | $153.9M | $426.8M |
| YoY % | +164.2% | +108.0% | +83.7% | -5.7% | +109.2% | +177.4% | |
| Gross Profit | $46.1M | $38.3M | $64.0M | $106.2M | $119.4M | $282.9M | $908.3M |
| YoY % | -17.0% | +67.2% | +65.9% | +12.5% | +136.9% | +221.1% | |
| R&D Expense | $27.6M | $34.8M | $47.9M | $76.8M | $95.5M | $146.9M | $279.4M |
| YoY % | +26.4% | +37.6% | +60.1% | +24.4% | +53.7% | +90.2% | |
| SG&A Expense | $16.5M | $28.7M | $34.9M | $48.2M | $60.2M | $98.9M | $184.0M |
| YoY % | +74.0% | +21.7% | +38.2% | +24.8% | +64.3% | +86.0% | |
| Total Operating Expenses | $44.0M | $63.5M | $86.0M | $127.4M | $156.5M | $245.8M | $463.3M |
| YoY % | +44.2% | +35.4% | +48.2% | +22.8% | +57.1% | +88.5% | |
| Operating Income | $2.1M | -$25.2M | -$22.0M | -$21.2M | -$37.1M | $37.1M | $445.0M |
| YoY % | +1098.7% | ||||||
| Other Non-Operating Income | $24,000 | -$62,000 | -$245,000 | $3.3M | $14.3M | $17.7M | $30.4M |
| YoY % | +331.0% | +24.0% | +71.5% | ||||
| Impairment of Real Estate | $0 | $0 | $4.9M | $2.4M | $765,000 | $873,000 | $1.5M |
| YoY % | -50.7% | -68.2% | +14.1% | +71.8% | |||
| Pretax Income | $2.1M | -$25.3M | -$22.2M | -$17.9M | -$22.7M | $54.9M | $475.4M |
| YoY % | +766.5% | ||||||
| Income Tax | $766,000 | $2.2M | -$37,000 | -$1.4M | $5.6M | $2.7M | $3.2M |
| YoY % | +189.2% | -52.2% | +17.5% | ||||
| Net Income | $1.3M | -$27.5M | -$22.2M | -$16.5M | -$28.4M | $52.2M | $472.3M |
| YoY % | +805.0% | ||||||
| Net Income to Common | $0 | -$27.5M | -$22.2M | — | — | — | — |
| EPS (Basic) | $0.00 | -$0.40 | -$0.25 | -$0.11 | -$0.18 | $0.31 | $2.65 |
| YoY % | +754.8% | ||||||
| EPS (Diluted) | $0.00 | -$0.40 | -$0.25 | -$0.11 | -$0.18 | $0.29 | $2.51 |
| YoY % | +765.5% | ||||||
| Weighted Avg Shares (Basic) | 71.7M | 69.1M | 88.4M | 146.6M | 155.1M | 167.5M | 178.5M |
| YoY % | -3.7% | +27.9% | +65.8% | +5.8% | +8.0% | +6.6% | |
| Weighted Avg Shares (Diluted) | 71.7M | 69.1M | 88.4M | 146.6M | 155.1M | 181.2M | 188.2M |
| YoY % | -3.7% | +27.9% | +65.8% | +5.8% | +16.8% | +3.9% |
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.
