| Market Cap | $68.55B | |
| Enterprise Value | — | |
| Revenue | $22.94B | +36.4% |
| Gross Profit | $10.24B | +42.2% |
| EBITDA | $2.36B | +124.1% |
| Net Income | $1.58B | +255.2% |
| Diluted EPS | $2.52 | +240.5% |
| Free Cash Flow | $4.51B | +52.4% |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 6y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||
| Gross Margin | 30.83% | 39.13% | 41.65% | 44.66% | 42.84% | 44.66% | 92% | 77% | |
| Operating Margin | −29.79% | −15.90% | −11.95% | 1.72% | 3.94% | 8.65% | 92% | 61% | |
| EBITDA Margin | −25.65% | −13.10% | −8.51% | 5.10% | 6.25% | 10.28% | 92% | 47% | |
| NOPAT Margin | −23.53% | −12.56% | −9.44% | 0.68% | 2.31% | 6.18% | 92% | 56% | |
| Net Margin | −36.98% | −20.56% | −13.26% | 1.15% | 2.64% | 6.88% | 92% | 66% | |
| FCF Margin | 5.02% | −5.66% | −15.90% | 14.07% | 17.59% | 19.66% | 92% | 91% | |
| FCFF Margin | — | — | — | 14.19% | 17.73% | 19.77% | 83% | 85% | |
| OCF Margin | 12.70% | 2.10% | −8.48% | 15.92% | 19.49% | 21.90% | 92% | 85% | |
| Gross Profitability | 12.90% | 20.77% | 30.50% | 30.89% | 31.85% | 34.88% | 92% | 76% | |
| Capex Intensity | 7.69% | 7.76% | 7.42% | 1.85% | 1.89% | 2.24% | 42% | 50% | |
| ▸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 · 3 ratios | |||||||||
| ▸Other · 1 ratios | |||||||||
The five drivers multiply to 14.2% vs reported ROE 15.1%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|
| Revenue | $4.38B | $9.96B | $12.45B | $13.06B | $16.82B | $22.94B |
| YoY % | +127.5% | +25.1% | +4.9% | +28.8% | +36.4% | |
| Cost of Revenue | $3.03B | $6.06B | $7.26B | $7.23B | $9.61B | $12.69B |
| YoY % | +100.2% | +19.9% | -0.5% | +33.0% | +32.0% | |
| Gross Profit | $1.35B | $3.90B | $5.19B | $5.83B | $7.21B | $10.24B |
| YoY % | +188.8% | +33.1% | +12.5% | +23.5% | +42.2% | |
| R&D Expense | $353.8M | $831.7M | $1.38B | $1.16B | $1.21B | $1.16B |
| YoY % | +135.1% | +65.5% | -15.4% | +3.6% | -4.1% | |
| Selling & Marketing Expense | $1.83B | $3.83B | $3.27B | $2.78B | $3.47B | $4.49B |
| YoY % | +109.2% | -14.6% | -15.0% | +25.0% | +29.4% | |
| SG&A Expense | $599.7M | $987.9M | $1.44B | $1.13B | $1.27B | $1.36B |
| YoY % | +64.7% | +45.5% | -21.1% | +11.7% | +7.1% | |
| Total Operating Expenses | $2.65B | $5.48B | $6.67B | $5.61B | $6.54B | $8.26B |
| YoY % | +106.6% | +21.8% | -15.9% | +16.7% | +26.2% | |
| Operating Income | -$1.30B | -$1.58B | -$1.49B | $224.8M | $662.2M | $1.99B |
| YoY % | +194.6% | +199.8% | ||||
| Interest Expense | $123.8M | $136.9M | $45.4M | $41.1M | $38.3M | $33.6M |
| YoY % | +10.5% | -66.8% | -9.5% | -6.7% | -12.3% | |
| Interest & Investment Income | $24.8M | $36.1M | $115.5M | $331.3M | $365.8M | $331.1M |
| YoY % | +45.5% | +220.1% | +186.8% | +10.4% | -9.5% | |
| Other Non-Operating Income | -$179.9M | -$132.1M | -$13.0M | $207.6M | $116.6M | $295.6M |
| YoY % | -43.8% | +153.4% | ||||
| Equity Method Income | $721,000 | $5.0M | $11.2M | -$7.0M | -$9.8M | -$18.9M |
| YoY % | +596.1% | +122.3% | ||||
| Impairment of Real Estate | $0 | $0 | — | — | — | — |
| Pretax Income | -$1.48B | -$1.72B | -$1.50B | $432.4M | $778.8M | $2.28B |
| YoY % | +80.1% | +192.9% | ||||
| Income Tax | $141.6M | $332.9M | $168.4M | $262.7M | $321.2M | $651.1M |
| YoY % | +135.0% | -49.4% | +56.0% | +22.3% | +102.7% | |
| Net Income (incl. NCI) | -$1.62B | -$2.04B | -$1.66B | $162.7M | $447.8M | $1.61B |
| YoY % | +175.3% | +259.7% | ||||
| Minority Interest (P&L) | -$6.1M | $3.7M | -$6.4M | $12.0M | $3.5M | $32.7M |
| YoY % | -70.7% | +834.0% | ||||
| Net Income | -$1.62B | -$2.05B | -$1.65B | $150.7M | $444.3M | $1.58B |
| YoY % | +194.8% | +255.2% | ||||
| Net Income to Common | — | — | -$1.65B | $150.7M | $446.0M | — |
| YoY % | +195.9% | |||||
| EPS (Basic) | -$3.39 | -$3.84 | -$2.96 | $0.27 | $0.77 | $2.65 |
| YoY % | +185.2% | +244.2% | ||||
| EPS (Diluted) | -$3.39 | -$3.84 | -$2.96 | $0.25 | $0.74 | $2.52 |
| YoY % | +196.0% | +240.5% | ||||
| Weighted Avg Shares (Basic) | 477.3M | 532.7M | 558.1M | 566.6M | 575.0M | 595.0M |
| YoY % | +11.6% | +4.8% | +1.5% | +1.5% | +3.5% | |
| Weighted Avg Shares (Diluted) | 477.3M | 532.7M | 558.1M | 594.4M | 604.7M | 638.2M |
| YoY % | +11.6% | +4.8% | +6.5% | +1.7% | +5.5% |
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.
