Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $3.41B | $4.2B | $4.28B | $4.17B | $4.7B | $5.25B | $5.61B | $6.1B | $6.94B |
| Cost of revenue | $1.71B | $2.39B | $2.22B | $1.75B | $2.24B | $2.45B | $2.64B | $2.87B | $3.33B |
| Gross profit | $1.7B | $1.81B | $2.06B | $2.41B | $2.46B | $2.71B | $3.03B | $3.26B | $3.66B |
| Gross margin | +49.77% | +43.05% | +48.14% | +57.92% | +52.37% | +51.70% | +53.96% | +53.54% | +52.72% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total operating expenses | $790.76M | $887.86M | $991.13M | $1.06B | $902.94M | $1.16B | $1.3B | $1.39B | $1.59B |
| Operating income | $905M | $920.98M | $1.07B | $1.36B | $1.56B | $1.56B | $1.67B | $1.87B | $2.11B |
| Operating margin | +26.56% | +21.92% | +24.96% | +32.54% | +33.17% | +29.73% | +29.81% | +30.74% | +30.38% |
| EBITDA | $1.38B | $1.49B | $1.74B | $2.1B | $2.38B | $2.47B | $2.7B | $2.96B | $3.37B |
| EBIT | $902.85M | $954.72M | $1.14B | $1.43B | $1.65B | $1.73B | $1.79B | $1.94B | $2.2B |
| Below the line | |||||||||
| Interest expense | $83.55M | $102.81M | $137.28M | $190.63M | $171.68M | $204.17M | $215.68M | $236.61M | $267.15M |
| Interest income | $2.14M | $2.78M | $7.21M | $22.89M | $29.94M | $23.97M | $25.95M | $28.19M | $30.5M |
| Other income / expense | -$85.7M | -$69.07M | -$67.51M | -$119.59M | -$81.94M | — | — | — | — |
| Pre-tax income | $819.3M | $851.91M | $999.64M | $1.24B | $1.48B | $1.46B | $1.59B | $1.68B | $1.98B |
| Income tax expense | $153.74M | $77.51M | $113.78M | $192.88M | $279.28M | $231.52M | $236.29M | $257.02M | $295.35M |
| Earnings | |||||||||
| Net income | $665.56M | $774.4M | $885.32M | $1.04B | $1.2B | $1.23B | $1.35B | $1.48B | $1.69B |
| Net income · continuing ops | $665.56M | $774.4M | $885.86M | $1.04B | $1.2B | $1.21B | $1.36B | $1.44B | $1.61B |
| Net margin | +19.53% | +18.43% | +20.71% | +25.04% | +25.49% | +23.38% | +23.96% | +24.20% | +24.37% |
| EPS · basic | $5.12 | $5.62 | $6.10 | $6.83 | $7.54 | $8.53 | $9.03 | $9.62 | $10.50 |
| EPS · diluted | $5.12 | $5.61 | $6.10 | $6.83 | $7.46 | $8.39 | $8.96 | $9.72 | $10.56 |
| EPS · low estimate | — | — | — | — | — | $8.26 | $8.80 | $9.53 | $9.71 |
| EPS · high estimate | — | — | — | — | — | $8.51 | $9.19 | $9.92 | $11.67 |
| Shares · basic | 129.78M | 137.83M | 145.12M | 152.51M | 158.94M | 157.44M | 159.49M | 160.51M | 160.52M |
| Shares · diluted | 129.83M | 138.1M | 145.17M | 152.67M | 160.57M | 161.2M | 159.34M | 160.02M | 160.74M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 8 | 7 | 8 | 4 |
| Analysts (EPS) | — | — | — | — | — | 9 | 9 | 7 | 2 |
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