| Market Cap | $18.38B | |
| Enterprise Value | — | |
| Revenue | $3.10B | +21.4% |
| Gross Profit | $3.05B | +21.0% |
| EBITDA | $818.7M | +8.6% |
| Net Income | $668.6M | +40.2% |
| Diluted EPS | $4.67 | +41.9% |
| Free Cash Flow | $831.3M | +34.4% |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | — | — | 100.00% | 99.22% | 98.92% | — | 99.03% | 98.74% | 98.44% | 97.90% | 98.56% | 98.18% | 17% | 96% | |
| Operating Margin | — | −476.51% | −982.48% | −81.27% | 8.16% | 9.17% | 15.58% | 9.04% | 16.73% | 13.30% | 24.22% | 21.64% | 86% | 92% | |
| EBITDA Margin | — | −471.41% | −972.79% | −79.79% | 9.05% | 10.11% | 16.41% | 10.00% | 17.77% | 14.42% | 25.37% | 22.70% | 86% | 87% | |
| NOPAT Margin | — | — | −776.16% | −64.21% | 7.89% | 7.30% | 15.58% | 7.99% | 12.08% | 10.00% | 17.01% | 14.68% | 75% | 86% | |
| Net Margin | — | −449.84% | −940.60% | −88.19% | 4.68% | 4.69% | 38.94% | 7.90% | 10.38% | 13.23% | 14.49% | 16.73% | 86% | 88% | |
| FCF Margin | — | — | −735.26% | −62.66% | 16.98% | 16.79% | 20.81% | 20.56% | 21.69% | 19.16% | 23.66% | 26.17% | 95% | 94% | |
| FCFF Margin | — | — | — | — | 23.52% | 20.02% | 23.94% | 22.58% | 22.03% | 19.34% | — | — | — | — | |
| OCF Margin | — | — | −707.87% | −58.36% | 22.47% | 18.65% | 21.85% | 22.63% | 22.80% | 20.66% | 25.28% | 27.36% | 95% | 93% | |
| Gross Profitability | — | — | 4.11% | 19.62% | 44.94% | — | 59.71% | 54.00% | 61.87% | 56.82% | 62.42% | 60.64% | 72% | 85% | |
| Capex Intensity | — | 9.78% | 27.39% | 4.29% | 5.50% | 1.87% | 1.04% | 2.06% | 1.11% | 1.50% | 1.62% | 1.19% | 23% | 32% | |
| ▸Returns on Capital · 3 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 6 ratios | |||||||||||||||
| ▸Liquidity & coverage · 6 ratios | |||||||||||||||
| ▸Leverage · 2 ratios | |||||||||||||||
| ▸Working capital · 8 ratios | |||||||||||||||
| ▸Capital allocation · 2 ratios | |||||||||||||||
| ▸Per share · 6 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
The five drivers multiply to 16.3% vs reported ROE 16.4%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2014↗ | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $19.8M | $15.0M | $161.6M | $451.2M | $788.1M | $1.05B | $1.13B | $1.49B | $1.89B | $2.36B | $2.86B |
| YoY % | -24.1% | +977.5% | +179.2% | +74.7% | +32.7% | +8.4% | +31.3% | +26.8% | +24.8% | +21.4% | ||
| Cost of Revenue | — | — | $0 | $1.3M | $4.9M | — | $10.1M | $14.3M | $23.2M | $39.7M | $34.0M | $52.1M |
| YoY % | +289.9% | +41.6% | +62.2% | +71.1% | -14.4% | +53.2% | ||||||
| R&D Expense | $46.4M | $81.5M | $94.3M | $121.8M | $160.5M | — | $275.0M | $328.1M | $463.8M | $565.0M | $731.1M | $1.02B |
| YoY % | +75.5% | +15.7% | +29.2% | +31.8% | +19.3% | +41.4% | +21.8% | +29.4% | +38.9% | |||
| SG&A Expense | — | $32.5M | $68.1M | $169.9M | $248.9M | $354.1M | $433.3M | $583.3M | $752.7M | $887.6M | $1.01B | $1.16B |
| YoY % | +109.6% | +149.6% | +46.5% | +42.3% | +22.4% | +34.6% | +29.0% | +17.9% | +13.5% | +14.8% | ||
| Total Operating Expenses | — | — | — | — | — | — | $882.9M | $1.03B | $1.24B | $1.64B | $1.78B | $2.24B |
| YoY % | +16.8% | +20.2% | +32.0% | +9.1% | +25.6% | |||||||
| Operating Income | -$64.4M | -$94.2M | -$147.4M | -$131.4M | $36.8M | $72.3M | $163.0M | $102.5M | $249.0M | $250.9M | $570.5M | $619.1M |
| YoY % | +96.5% | +125.4% | -37.1% | +142.9% | +0.8% | +127.4% | +8.5% | |||||
| Interest Expense | — | $0 | $0 | $19.5M | $30.5M | $32.0M | $32.8M | $25.8M | $7.1M | $4.6M | — | — |
| YoY % | +56.2% | +4.9% | +2.5% | -21.3% | -72.5% | -35.2% | ||||||
| Interest & Investment Income | $629,000 | $1.9M | $2.8M | — | — | — | — | — | — | — | — | — |
| YoY % | +206.5% | +47.2% | ||||||||||
| Other Non-Operating Income | $3.9M | $5.3M | $6.3M | -$11.2M | -$15.0M | -$25.8M | -$56.3M | -$1.1M | -$35.1M | $81.2M | -$84.5M | $86.3M |
| YoY % | +36.3% | +19.1% | ||||||||||
| Pretax Income | — | — | -$141.1M | -$142.5M | $21.8M | $46.5M | $106.7M | $101.4M | $213.9M | $332.1M | $486.0M | $705.4M |
| YoY % | +113.3% | +129.5% | -5.0% | +110.9% | +55.3% | +46.3% | +45.1% | |||||
| Income Tax | $0 | $0 | $0 | $0 | $700,000 | $9.5M | -$300.6M | $11.8M | $59.4M | $82.4M | $144.7M | $226.8M |
| YoY % | +1257.1% | +403.4% | +38.7% | +75.6% | +56.7% | |||||||
| Net Income (incl. NCI) | — | — | -$141.1M | -$142.5M | $21.1M | — | — | — | — | — | — | — |
| Net Income | -$60.5M | -$88.9M | -$141.1M | -$142.5M | $21.1M | $37.0M | $407.3M | $89.6M | $154.5M | $249.7M | $341.3M | $478.6M |
| YoY % | +75.4% | +1000.8% | -78.0% | +72.4% | +61.6% | +36.7% | +40.2% | |||||
| Net Income to Common | — | — | — | — | — | — | $407.3M | $89.6M | $154.5M | $249.7M | $341.3M | $478.6M |
| YoY % | -78.0% | +72.4% | +61.6% | +36.7% | +40.2% | |||||||
| EPS (Basic) | -$0.81 | -$1.05 | -$1.63 | -$1.62 | $0.23 | $0.40 | $4.38 | $0.95 | $1.61 | $2.56 | $3.40 | $4.81 |
| YoY % | +73.9% | +995.0% | -78.3% | +69.5% | +59.0% | +32.8% | +41.5% | |||||
| EPS (Diluted) | -$0.81 | -$1.05 | -$1.63 | -$1.62 | $0.22 | $0.39 | $4.16 | $0.92 | $1.56 | $2.47 | $3.29 | $4.67 |
| YoY % | +77.3% | +966.7% | -77.9% | +69.6% | +58.3% | +33.2% | +41.9% | |||||
| Weighted Avg Shares (Basic) | 74.6M | 84.5M | 86.7M | 88.1M | 90.2M | 91.6M | 93.1M | 94.6M | 95.8M | 97.7M | 100.4M | 99.5M |
| YoY % | +13.3% | +2.6% | +1.6% | +2.4% | +1.6% | +1.6% | +1.6% | +1.3% | +2.0% | +2.8% | -0.9% | |
| Weighted Avg Shares (Diluted) | 74.6M | 84.5M | 86.7M | 88.1M | 95.4M | 95.7M | 97.8M | 97.9M | 98.9M | 101.0M | 103.7M | 102.5M |
| YoY % | +13.3% | +2.6% | +1.6% | +8.3% | +0.3% | +2.2% | +0.1% | +1.0% | +2.1% | +2.7% | -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.
