| Market Cap | $8.40B | |
| Enterprise Value | $8.63B | |
| Revenue | $700.3M | +87.3% |
| Gross Profit | $581.7M | +77.5% |
| EBITDA | $149.6M | +193.8% |
| Net Income | $461.9M | +1812.4% |
| Diluted EPS | $2.77 | +1746.7% |
| Free Cash Flow | -$14.2M | — |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | — | — | — | — | — | — | — | 88.19% | 90.48% | 93.95% | 88.30% | 83.66% | 10% | 83% | |
| Operating Margin | — | — | −51953.29% | −78100.00% | −114736.84% | −111220.39% | −179996.05% | −5154.28% | −7838.99% | 8.83% | 12.74% | 20.01% | 95% | 91% | |
| EBITDA Margin | — | — | −51911.84% | −78046.05% | −114678.95% | −111034.87% | −179750.00% | −5150.07% | −7828.11% | 8.92% | 12.76% | 20.02% | 95% | 84% | |
| NOPAT Margin | — | — | — | — | — | −87864.11% | −142196.88% | −4071.88% | −6192.81% | 8.57% | 11.64% | 20.01% | 93% | 92% | |
| Net Margin | — | — | — | — | — | — | — | −5204.08% | −8036.34% | 5.42% | 7.11% | 72.56% | 90% | 98% | |
| FCF Margin | — | — | — | −61685.53% | −84878.29% | −87458.55% | −141357.89% | −4425.70% | −6326.18% | −13.44% | −12.33% | −4.05% | 94% | 54% | |
| FCFF Margin | — | — | — | — | — | — | — | — | — | −8.21% | −5.66% | 0.28% | 83% | 7% | |
| OCF Margin | — | — | — | −61684.21% | −84819.08% | −87372.37% | −141123.03% | −4419.70% | −6325.67% | −13.44% | −12.32% | −4.02% | 94% | 54% | |
| Gross Profitability | — | — | — | — | — | — | — | 1.55% | 1.30% | 66.61% | 50.29% | 48.49% | 50% | 76% | |
| Capex Intensity | — | — | 226.32% | 1.32% | 59.21% | 86.18% | 234.87% | 5.99% | 0.50% | 0.00% | 0.01% | 0.03% | 25% | 4% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||||||||
| ▸Leverage · 9 ratios | |||||||||||||||
| ▸Working capital · 5 ratios | |||||||||||||||
| ▸Per share · 6 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
The five drivers multiply to 89.4% vs reported ROE 102.8%. 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 | — | — | $152,000 | $152,000 | $152,000 | $152,000 | $152,000 | $6.7M | $2.8M | $233.7M | $329.0M | $616.3M |
| YoY % | 0.0% | 0.0% | 0.0% | 0.0% | +4300.7% | -58.4% | +8290.0% | +40.8% | +87.3% | |||
| Cost of Revenue | — | — | — | — | — | — | — | $790,000 | $265,000 | $14.1M | $38.5M | $100.7M |
| YoY % | -66.5% | +5232.5% | +172.4% | +161.7% | ||||||||
| R&D Expense | $40.1M | $47.7M | $69.2M | $102.5M | $159.4M | $154.2M | $165.9M | $222.6M | $125.4M | $76.2M | $94.3M | $160.2M |
| YoY % | +19.0% | +45.1% | +48.1% | +55.5% | -3.3% | +7.6% | +34.2% | -43.7% | -39.2% | +23.8% | +69.9% | |
| SG&A Expense | — | — | — | — | — | $15.0M | $107.8M | $128.1M | $95.5M | $122.7M | $154.3M | $232.0M |
| YoY % | +617.7% | +18.8% | -25.5% | +28.5% | +25.7% | +50.4% | ||||||
| Total Operating Expenses | — | — | — | — | — | — | — | $351.5M | $221.1M | $213.0M | $287.1M | $493.0M |
| YoY % | -37.1% | -3.7% | +34.8% | +71.7% | ||||||||
| Operating Income | -$55.7M | -$63.2M | -$79.0M | -$118.7M | -$174.4M | -$169.1M | -$273.6M | -$344.8M | -$218.3M | $20.6M | $41.9M | $123.3M |
| YoY % | +103.2% | +194.1% | ||||||||||
| Interest Expense | — | — | — | — | — | — | — | — | $10.2M | $12.6M | $24.0M | $26.7M |
| YoY % | +23.8% | +90.5% | +11.2% | |||||||||
| Other Non-Operating Income | — | — | — | — | — | — | — | $2.3M | $4.7M | $5.0M | $7.7M | $10.8M |
| YoY % | +103.5% | +7.4% | +52.5% | +40.3% | ||||||||
| Pretax Income | — | — | — | — | — | -$172,871 | -$279,381 | -$348.1M | -$223.8M | $13.1M | $25.6M | $107.4M |
| YoY % | +95.9% | +319.6% | ||||||||||
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $390,000 | $2.2M | -$339.8M |
| YoY % | +466.9% | |||||||||||
| Net Income (incl. NCI) | -$55.8M | -$62.9M | -$78.3M | -$118.5M | -$173.5M | -$172.9M | -$279.4M | -$348.1M | -$198.3M | — | — | — |
| Net Income | — | — | — | — | — | — | — | -$348.1M | -$223.8M | $12.7M | $23.4M | $447.2M |
| YoY % | +84.5% | +1812.4% | ||||||||||
| EPS (Basic) | — | — | — | — | — | — | -$2.42 | -$2.63 | -$1.65 | $0.09 | $0.16 | $3.10 |
| YoY % | +77.8% | +1837.5% | ||||||||||
| EPS (Diluted) | — | — | — | — | — | — | -$2.42 | -$2.63 | -$1.65 | $0.09 | $0.15 | $2.77 |
| YoY % | +66.7% | +1746.7% | ||||||||||
| Weighted Avg Shares (Basic) | — | — | — | — | — | — | 115.3M | 132.2M | 135.4M | 142.0M | 145.3M | 144.3M |
| YoY % | +14.6% | +2.4% | +4.8% | +2.4% | -0.7% | |||||||
| Weighted Avg Shares (Diluted) | — | — | — | — | — | — | 115.3M | 132.2M | 135.4M | 148.5M | 160.3M | 161.4M |
| YoY % | +14.6% | +2.4% | +9.7% | +8.0% | +0.7% |
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.
