| Market Cap | $71.55B | |
| Enterprise Value | $79.11B | |
| Revenue | $8.68B | +15.1% |
| Gross Profit | $6.38B | +11.2% |
| EBITDA | $2.08B | −4.6% |
| Net Income | $773.3M | −41.1% |
| Diluted EPS | $8.04 | −44.6% |
| Free Cash Flow | $2.63B | +6.4% |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | 77.79% | 76.86% | 77.59% | 75.99% | 76.42% | 77.60% | 78.44% | 79.50% | 82.33% | 80.62% | 79.68% | 76.98% | 29% | 84% | |
| Operating Margin | 12.09% | 11.88% | 13.10% | 12.76% | 11.54% | 15.48% | 16.83% | 17.48% | 22.61% | 23.94% | 22.13% | 12.97% | 38% | 78% | |
| EBITDA Margin | 21.46% | 21.33% | 21.65% | 19.71% | 18.24% | 21.48% | 22.53% | 22.32% | 27.10% | 28.59% | 26.94% | 22.33% | 63% | 83% | |
| NOPAT Margin | — | — | — | — | — | 15.11% | 16.83% | 16.41% | 19.75% | 22.29% | 20.67% | 12.45% | 7% | 79% | |
| Net Margin | 12.59% | 10.08% | 11.01% | 5.01% | 13.86% | 15.84% | 18.03% | 18.02% | 19.38% | 23.13% | 36.94% | 18.89% | 71% | 86% | |
| FCF Margin | 21.76% | — | — | 20.63% | 10.43% | 17.92% | 22.70% | 33.27% | 31.53% | 28.46% | 20.69% | 19.13% | 25% | 75% | |
| FCFF Margin | — | — | — | — | — | — | — | — | 31.56% | 28.51% | 21.25% | 25.20% | 38% | 74% | |
| OCF Margin | 26.78% | — | — | 23.21% | 13.60% | 23.82% | 26.90% | 35.50% | 34.22% | 32.03% | 22.96% | 21.53% | 15% | 75% | |
| Gross Profitability | 33.52% | 34.15% | 35.87% | 38.37% | 38.81% | 40.71% | 36.00% | 38.19% | 39.47% | 41.49% | 37.34% | 11.26% | 4% | 17% | |
| Capex Intensity | 5.02% | 3.88% | 2.76% | 2.58% | 3.17% | 5.90% | 4.20% | 2.23% | 2.69% | 3.57% | 2.28% | 2.40% | 21% | 57% | |
| ▸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 7.4% vs reported ROE 7.1%. 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 | $2.06B | $2.24B | $2.42B | $2.72B | $3.12B | $3.36B | $3.69B | $4.20B | $5.08B | $5.32B | $6.13B | $7.05B |
| YoY % | +9.0% | +8.0% | +12.5% | +14.5% | +7.7% | +9.7% | +14.1% | +20.9% | +4.7% | +15.2% | +15.1% | |
| Cost of Revenue | $456.9M | $518.9M | $543.0M | $654.2M | $735.9M | $752.9M | $794.7M | $861.8M | $898.0M | $1.03B | $1.25B | $1.62B |
| YoY % | +13.6% | +4.6% | +20.5% | +12.5% | +2.3% | +5.5% | +8.4% | +4.2% | +14.8% | +20.8% | +30.4% | |
| Gross Profit | $1.60B | $1.72B | $1.88B | $2.07B | $2.39B | $2.61B | $2.89B | $3.34B | $3.72B | $4.29B | $4.88B | $5.43B |
| YoY % | +7.7% | +9.1% | +10.2% | +15.2% | +9.3% | +10.8% | +15.6% | +11.2% | +15.3% | +13.9% | +11.2% | |
| R&D Expense | $718.8M | $776.2M | $856.7M | $908.8M | $1.08B | $1.14B | $1.28B | $1.50B | $1.59B | $1.85B | $2.08B | $2.48B |
| YoY % | +8.0% | +10.4% | +6.1% | +19.4% | +4.8% | +12.5% | +17.7% | +5.7% | +16.4% | +12.6% | +19.1% | |
| Selling & Marketing Expense | $453.1M | $474.4M | $502.4M | $549.2M | $623.0M | $632.9M | $632.0M | $712.5M | $642.7M | $724.9M | $859.3M | $1.07B |
| YoY % | +4.7% | +5.9% | +9.3% | +13.4% | +1.6% | -0.1% | +12.7% | -9.8% | +12.8% | +18.5% | +25.0% | |
| SG&A Expense | $155.2M | $165.1M | $166.0M | $196.8M | $262.6M | $229.2M | $284.5M | $323.0M | $313.6M | $376.7M | $568.5M | $769.6M |
| YoY % | +6.4% | +0.5% | +18.6% | +33.4% | -12.7% | +24.1% | +13.5% | -2.9% | +20.1% | +50.9% | +35.4% | |
| Total Operating Expenses | $1.35B | $1.46B | $1.56B | $1.72B | $2.02B | $2.09B | $2.27B | $2.61B | $2.57B | $3.01B | $3.53B | $4.52B |
| YoY % | +7.8% | +7.2% | +10.3% | +17.5% | +3.1% | +8.8% | +14.9% | -1.5% | +17.3% | +17.0% | +28.1% | |
| Operating Income | $248.7M | $266.5M | $317.4M | $347.6M | $360.2M | $520.2M | $620.1M | $734.8M | $1.15B | $1.27B | $1.36B | $914.9M |
| YoY % | +7.1% | +19.1% | +9.5% | +3.6% | +44.4% | +19.2% | +18.5% | +56.3% | +10.8% | +6.5% | -32.5% | |
| Interest Expense | — | — | — | — | — | — | — | — | $1.7M | $2.7M | $36.8M | $446.7M |
| YoY % | +59.2% | +1262.5% | +1113.0% | |||||||||
| Other Non-Operating Income | $12.0M | $5.1M | $7.7M | $2.6M | $5.4M | -$1.3M | -$7.4M | -$5.2M | $10.7M | -$20.4M | -$20.8M | -$16.7M |
| YoY % | -57.3% | +49.8% | -65.5% | +105.1% | ||||||||
| Impairment of Real Estate | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Pretax Income | — | — | — | — | — | $545.5M | $638.2M | $805.5M | $1.10B | $1.31B | $1.51B | $1.39B |
| YoY % | +17.0% | +26.2% | +37.0% | +18.3% | +16.0% | -8.0% | ||||||
| Income Tax | $13.0M | $55.7M | $62.7M | $246.5M | -$69.0M | $13.1M | -$25.3M | $49.2M | $139.4M | $90.2M | $99.7M | $56.0M |
| YoY % | +327.7% | +12.7% | +293.1% | +183.6% | -35.3% | +10.6% | -43.9% | |||||
| Income from Continuing Operations | — | — | — | — | — | — | — | — | $970.2M | $1.23B | $1.44B | $1.34B |
| YoY % | +26.5% | +17.5% | -7.3% | |||||||||
| Income from Discontinued Operations | — | — | — | — | — | — | — | — | $14.4M | $2.8M | $821.7M | -$3.9M |
| YoY % | -80.2% | +28801.5% | ||||||||||
| Net Income (incl. NCI) | $259.1M | — | — | — | $432.5M | $532.4M | $663.4M | $756.4M | $978.4M | $1.22B | $2.24B | $1.33B |
| YoY % | +23.1% | +24.6% | +14.0% | +29.4% | +24.5% | +83.5% | -40.4% | |||||
| Minority Interest (P&L) | — | — | — | — | $0 | $0 | -$900,000 | -$1.2M | -$6.2M | -$11.8M | -$27.6M | $1.0M |
| Net Income | $259.1M | $225.9M | $266.8M | $136.6M | $432.5M | $532.4M | $664.3M | $757.5M | $984.6M | $1.23B | $2.26B | $1.33B |
| YoY % | -12.8% | +18.1% | -48.8% | +216.7% | +23.1% | +24.8% | +14.0% | +30.0% | +24.9% | +84.0% | -41.1% | |
| EPS (Basic) | $1.67 | $1.46 | $1.76 | $0.91 | $2.90 | $3.55 | $4.40 | $4.96 | $6.44 | $8.08 | $14.78 | $8.13 |
| YoY % | -12.6% | +20.5% | -48.3% | +218.7% | +22.4% | +23.9% | +12.7% | +29.8% | +25.5% | +82.9% | -45.0% | |
| EPS (Diluted) | $1.64 | $1.43 | $1.73 | $0.88 | $2.82 | $3.45 | $4.27 | $4.81 | $6.29 | $7.92 | $14.51 | $8.04 |
| YoY % | -12.8% | +21.0% | -49.1% | +220.5% | +22.3% | +23.8% | +12.6% | +30.8% | +25.9% | +83.2% | -44.6% | |
| Weighted Avg Shares (Basic) | 155.1M | 155.0M | 152.0M | 150.5M | 149.0M | 149.9M | 151.1M | 152.7M | 153.0M | 152.1M | 153.1M | 163.9M |
| YoY % | -0.1% | -1.9% | -1.0% | -0.9% | +0.6% | +0.8% | +1.0% | +0.2% | -0.6% | +0.7% | +7.1% | |
| Weighted Avg Shares (Diluted) | 157.7M | 158.1M | 154.7M | 154.9M | 153.4M | 154.2M | 155.7M | 157.3M | 156.5M | 155.2M | 155.9M | 165.7M |
| YoY % | +0.2% | -2.1% | +0.1% | -1.0% | +0.5% | +1.0% | +1.0% | -0.5% | -0.8% | +0.5% | +6.2% |
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.
