| Market Cap | $4.35B | |
| Enterprise Value | $8.40B | |
| Revenue | $4.45B | +25.5% |
| Gross Profit | $338.9M | — |
| EBITDA | $858.0M | +43.9% |
| Net Income | $117.0M | −48.3% |
| Diluted EPS | — | — |
| Free Cash Flow | $657.0M | +26.6% |
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 8y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||
| Gross Margin | 25.10% | 23.71% | 23.18% | 21.32% | — | — | — | — | — | — | |
| Operating Margin | −2.34% | −0.60% | −7.51% | −3.55% | 4.71% | 4.48% | 7.42% | 8.40% | 94% | 60% | |
| EBITDA Margin | 10.29% | 7.96% | 3.47% | 3.99% | 12.12% | 12.87% | 16.33% | 18.73% | 94% | 75% | |
| NOPAT Margin | −1.85% | −0.48% | −5.93% | −2.81% | 4.70% | 4.48% | 5.86% | 6.33% | 94% | 58% | |
| Net Margin | −9.88% | −7.74% | −2.40% | −3.48% | 3.73% | 3.35% | 6.90% | 2.85% | 56% | 44% | |
| FCF Margin | 4.26% | −0.03% | −0.10% | −0.38% | 13.29% | 12.94% | 14.80% | 14.93% | 94% | 85% | |
| FCFF Margin | — | — | — | — | 14.90% | 14.19% | — | 18.35% | 83% | 81% | |
| FCFE Margin | — | 12.28% | 148.55% | 45.32% | 13.29% | 12.94% | 47.82% | 82.68% | 79% | 98% | |
| OCF Margin | 4.55% | 1.09% | 0.52% | 0.22% | 13.69% | 13.49% | 15.01% | 15.17% | 94% | 71% | |
| Gross Profitability | — | 22.12% | 9.99% | 11.88% | — | — | — | — | — | — | |
| Capex Intensity | 0.29% | 1.12% | 0.63% | 0.59% | 0.40% | 0.55% | 0.21% | 0.24% | 19% | 8% | |
| ▸Returns on Capital · 6 ratios | |||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||
| ▸Liquidity & coverage · 9 ratios | |||||||||||
| ▸Leverage · 9 ratios | |||||||||||
| ▸Working capital · 8 ratios | |||||||||||
| ▸Capital allocation · 2 ratios | |||||||||||
| ▸Per share · 6 ratios | |||||||||||
| ▸Other · 1 ratios | |||||||||||
The five drivers multiply to 10.5% vs reported ROE 10.6%. 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 | $560.6M | $731.4M | $766.9M | $1.38B | $2.01B | $2.56B | $3.33B | $4.18B |
| YoY % | +30.5% | +4.9% | +80.5% | +45.3% | +27.5% | +29.9% | +25.5% | |
| Cost of Revenue | $419.9M | $558.0M | $589.1M | $1.09B | — | — | — | — |
| YoY % | +32.9% | +5.6% | +84.9% | |||||
| Gross Profit | $140.7M | $173.4M | $177.8M | $278.4M | — | — | — | — |
| YoY % | +23.2% | +2.5% | +56.6% | |||||
| R&D Expense | $1.6M | $1.6M | $1.2M | $1.8M | $500,000 | $1.0M | $4.0M | $6.0M |
| YoY % | 0.0% | -25.0% | +50.0% | -72.2% | +100.0% | +300.0% | +50.0% | |
| SG&A Expense | $79.8M | $117.1M | $186.5M | $219.5M | $267.4M | $329.0M | $459.0M | $682.0M |
| YoY % | +46.7% | +59.3% | +17.7% | +21.8% | +23.0% | +39.5% | +48.6% | |
| Total Operating Expenses | $153.8M | $177.8M | $235.4M | $327.6M | — | — | — | — |
| YoY % | +15.6% | +32.4% | +39.2% | |||||
| Operating Income | -$13.1M | -$4.4M | -$57.6M | -$49.2M | $94.7M | $115.0M | $247.0M | $351.0M |
| YoY % | +21.4% | +114.8% | +42.1% | |||||
| Interest Expense | — | — | — | — | $32.5M | $32.0M | $62.0M | $190.0M |
| YoY % | -1.5% | +93.8% | +206.5% | |||||
| Interest & Investment Income | — | — | $0 | $0 | $10.8M | $32.0M | $34.0M | $59.0M |
| YoY % | +196.3% | +6.3% | +73.5% | |||||
| Other Non-Operating Income | $600,000 | $1.0M | $600,000 | $100,000 | $500,000 | -$4.0M | $2.0M | -$9.0M |
| YoY % | +66.7% | -40.0% | -83.3% | +400.0% | ||||
| Pretax Income | -$59.5M | -$54.9M | -$113.8M | -$77.1M | $86.9M | $120.0M | -$1.0M | $195.0M |
| YoY % | +38.1% | |||||||
| Income Tax | -$4.1M | $1.7M | -$2.4M | -$3.1M | $200,000 | -$3.0M | -$296.0M | $48.0M |
| Net Income (incl. NCI) | -$55.4M | -$56.6M | -$111.4M | -$74.0M | $86.7M | $123.0M | $295.0M | $147.0M |
| YoY % | +41.9% | +139.8% | -50.2% | |||||
| Minority Interest (P&L) | — | — | -$93.0M | -$25.8M | $11.6M | $37.0M | $65.0M | $28.0M |
| YoY % | +219.0% | +75.7% | -56.9% | |||||
| Net Income | — | — | -$18.4M | -$48.2M | $75.1M | $86.0M | $230.0M | $119.0M |
| YoY % | +14.5% | +167.4% | -48.3% | |||||
| Net Income to Common | — | — | -$19.4M | -$48.9M | $75.1M | $86.0M | $228.0M | $78.0M |
| YoY % | +14.5% | +165.1% | -65.8% | |||||
| Preferred Dividends | — | — | — | — | $0 | $0 | $0 | $40.0M |
| Weighted Avg Shares (Basic) | — | — | — | — | 3.9M | 1.9M | 1.7M | 1.3M |
| YoY % | -49.7% | -14.1% | -20.1% | |||||
| Weighted Avg Shares (Diluted) | — | — | — | — | 3.9M | 1.9M | 1.7M | 1.3M |
| YoY % | -49.7% | -14.1% | -20.1% |
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.
