| Market Cap | $84.78B | |
| Enterprise Value | — | |
| Revenue | $14.72B | +27.9% |
| Gross Profit | — | — |
| EBITDA | $1.58B | +181.1% |
| Net Income | $926.0M | +660.2% |
| Diluted EPS | $2.13 | +634.5% |
| Free Cash Flow | $2.15B | +7.2% |
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 8y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||
| Operating Margin | −72.16% | −69.60% | −15.11% | −9.25% | −17.07% | −6.71% | −0.35% | 5.27% | 94% | 44% | |
| EBITDA Margin | −69.07% | −65.99% | −10.95% | −6.06% | −11.47% | −0.81% | 4.88% | 10.72% | 94% | 49% | |
| NOPAT Margin | — | −54.99% | −11.93% | −7.31% | −13.49% | −5.30% | −0.27% | 5.23% | 93% | 51% | |
| Net Margin | −70.10% | −75.37% | −15.97% | −9.57% | −20.74% | −6.46% | 1.15% | 6.82% | 94% | 66% | |
| FCF Margin | −59.11% | −61.58% | 5.06% | 11.52% | 2.90% | 17.95% | 18.91% | 15.85% | 69% | 87% | |
| OCF Margin | −54.64% | −52.77% | 8.73% | 14.16% | 5.57% | 19.37% | 19.88% | 17.72% | 69% | 79% | |
| Capex Intensity | 4.47% | 8.81% | 3.67% | 2.64% | 2.67% | 1.42% | 0.97% | 1.87% | 31% | 43% | |
| ▸Returns on Capital · 3 ratios | |||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||
| ▸Earnings quality · 6 ratios | |||||||||||
| ▸Liquidity & coverage · 5 ratios | |||||||||||
| ▸Leverage · 2 ratios | |||||||||||
| ▸Working capital · 3 ratios | |||||||||||
| ▸Capital allocation · 2 ratios | |||||||||||
| ▸Per share · 3 ratios | |||||||||||
| ▸Other · 1 ratios | |||||||||||
The five drivers multiply to 11.3% vs reported ROE 10.5%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|
| Revenue | $291.0M | $885.0M | $2.89B | $4.89B | $6.58B | $8.63B | $10.72B | $13.72B |
| YoY % | +204.1% | +226.1% | +69.4% | +34.7% | +31.2% | +24.2% | +27.9% | |
| R&D Expense | $51.0M | $107.0M | $321.0M | $430.0M | $829.0M | $1.00B | $1.17B | $1.43B |
| YoY % | +109.8% | +200.0% | +34.0% | +92.8% | +21.0% | +16.5% | +22.5% | |
| Selling & Marketing Expense | $135.0M | $594.0M | $957.0M | $1.62B | $1.68B | $1.88B | $2.04B | $2.48B |
| YoY % | +340.0% | +61.1% | +69.2% | +3.9% | +11.5% | +8.6% | +21.6% | |
| SG&A Expense | $78.0M | $245.0M | $556.0M | $797.0M | $1.15B | $1.24B | $1.45B | $1.60B |
| YoY % | +214.1% | +126.9% | +43.3% | +43.9% | +7.7% | +17.6% | +10.2% | |
| Total Operating Expenses | $501.0M | $1.50B | $3.32B | $5.34B | $7.71B | $9.21B | $10.76B | $12.99B |
| YoY % | +199.6% | +121.3% | +60.7% | +44.3% | +19.6% | +16.8% | +20.8% | |
| Operating Income | -$210.0M | -$616.0M | -$436.0M | -$452.0M | -$1.12B | -$579.0M | -$38.0M | $723.0M |
| Interest Expense | $1.0M | $0 | $32.0M | $14.0M | $2.0M | — | — | — |
| YoY % | -100.0% | -56.3% | -85.7% | |||||
| Other Non-Operating Income | $0 | -$68.0M | $3.0M | $0 | -$305.0M | -$107.0M | -$5.0M | $5.0M |
| YoY % | -100.0% | |||||||
| Pretax Income | — | -$666.0M | -$458.0M | -$463.0M | -$1.40B | -$534.0M | $156.0M | $939.0M |
| YoY % | +501.9% | |||||||
| Income Tax | $0 | $1.0M | $3.0M | $5.0M | -$31.0M | $31.0M | $39.0M | $7.0M |
| YoY % | +200.0% | +66.7% | +25.8% | -82.1% | ||||
| Net Income (incl. NCI) | — | — | -$461.0M | -$468.0M | -$1.37B | -$565.0M | $117.0M | $932.0M |
| YoY % | +696.6% | |||||||
| Minority Interest (P&L) | — | — | $0 | $0 | -$3.0M | -$7.0M | -$6.0M | -$3.0M |
| Net Income | -$204.0M | -$667.0M | -$461.0M | -$468.0M | -$1.36B | -$558.0M | $123.0M | $935.0M |
| YoY % | +660.2% | |||||||
| Net Income to Common | -$207.0M | -$668.0M | -$461.0M | -$468.0M | — | — | — | — |
| EPS (Basic) | — | -$15.44 | -$7.39 | -$1.39 | -$3.68 | -$1.42 | $0.30 | $2.19 |
| YoY % | +630.0% | |||||||
| EPS (Diluted) | — | -$15.44 | -$7.39 | -$1.39 | -$3.68 | -$1.42 | $0.29 | $2.13 |
| YoY % | +634.5% | |||||||
| Weighted Avg Shares (Basic) | — | 43.3M | 62.4M | 336.8M | 371.4M | 392.9M | 411.6M | 427.0M |
| YoY % | +44.2% | +439.9% | +10.3% | +5.8% | +4.7% | +3.8% | ||
| Weighted Avg Shares (Diluted) | — | 43.3M | 62.4M | 336.8M | 371.4M | 392.9M | 430.2M | 439.7M |
| YoY % | +44.2% | +439.9% | +10.3% | +5.8% | +9.5% | +2.2% |
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.
