Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $365.82B | $394.33B | $383.29B | $391.04B | $416.16B | $477.17B | $516.94B | $553.87B | $594.87B |
| Cost of revenue | $212.98B | $223.55B | $214.14B | $210.35B | $220.96B | $264.91B | $276.35B | $307.66B | $332.14B |
| Gross profit | $152.84B | $170.78B | $169.15B | $180.68B | $195.2B | $223.05B | $239.35B | $260.48B | $276.36B |
| Gross margin | +41.78% | +43.31% | +44.13% | +46.21% | +46.91% | +46.74% | +46.30% | +47.03% | +46.46% |
| Operating | |||||||||
| Research & development | $21.91B | $26.25B | $29.92B | $31.37B | $34.55B | $38.2B | $42.2B | $44.33B | $47.8B |
| Selling, general & administrative | $21.97B | $25.09B | $24.93B | $26.1B | $27.6B | $30.73B | $33.26B | $37.46B | $38.7B |
| Total operating expenses | $43.89B | $51.35B | $54.85B | $57.47B | $62.15B | $69.26B | $76.11B | $83.23B | $88.68B |
| Operating income | $108.95B | $119.44B | $114.3B | $123.22B | $133.05B | $147.39B | $156.74B | $172.06B | $183.94B |
| Operating margin | +29.78% | +30.29% | +29.82% | +31.51% | +31.97% | +30.89% | +30.32% | +31.07% | +30.92% |
| EBITDA | $123.14B | $133.14B | $129.19B | $134.93B | $144.43B | $167.59B | $181.72B | $187.68B | $209.04B |
| EBIT | $111.85B | $122.03B | $117.67B | $123.49B | $132.73B | $150.72B | $160.54B | $173.84B | $181.15B |
| Below the line | |||||||||
| Interest expense | $2.65B | $2.93B | $3.93B | $0 | $0 | $1.62B | $1.74B | $1.95B | $2.08B |
| Interest income | $2.84B | $2.83B | $3.75B | $0 | $0 | $1.6B | $1.65B | $1.85B | $1.91B |
| Other income / expense | $258M | -$334M | -$565M | $269M | -$321M | — | — | — | — |
| Pre-tax income | $109.21B | $119.1B | $113.74B | $123.49B | $132.73B | $150.87B | $158.83B | $170.94B | $186.28B |
| Income tax expense | $14.53B | $19.3B | $16.74B | $29.75B | $20.72B | $27.47B | $29.19B | $30.45B | $33.34B |
| Earnings | |||||||||
| Net income | $94.68B | $99.8B | $97B | $93.74B | $112.01B | $119.6B | $129.59B | $144.41B | $151.64B |
| Net income · continuing ops | $94.68B | $99.8B | $97B | $93.74B | $112.01B | $123.79B | $131.64B | $142.29B | $151.89B |
| Net margin | +25.88% | +25.31% | +25.31% | +23.97% | +26.92% | +25.06% | +25.07% | +26.07% | +25.49% |
| EPS · basic | $5.67 | $6.15 | $6.16 | $6.11 | $7.49 | $8.78 | $9.63 | $10.71 | $11.52 |
| EPS · diluted | $5.61 | $6.11 | $6.13 | $6.08 | $7.46 | $8.75 | $9.62 | $10.62 | $11.62 |
| EPS · low estimate | — | — | — | — | — | $8.62 | $9.12 | $9.38 | $11.10 |
| EPS · high estimate | — | — | — | — | — | $8.92 | $10.31 | $11.82 | $12.61 |
| Shares · basic | 16.7B | 16.22B | 15.74B | 15.34B | 14.95B | 15.06B | 15.03B | 15.04B | 14.94B |
| Shares · diluted | 16.86B | 16.33B | 15.81B | 15.41B | 15B | 14.98B | 14.95B | 15B | 14.9B |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 28 | 31 | 21 | 13 |
| Analysts (EPS) | — | — | — | — | — | 32 | 33 | 19 | 9 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro