Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $16.11B | $5.57B | $14.32B | $21.64B | $19.26B | $11.75B | $13.98B | $16.13B | $9.74B |
| Cost of revenue | $9.21B | $3.56B | $9.46B | $17.8B | $11.21B | $8.07B | $9.83B | $11B | $6.66B |
| Gross profit | $6.9B | $2.01B | $4.86B | $3.84B | $8.06B | $3.74B | $4.38B | $5.09B | $3.07B |
| Gross margin | +42.81% | +36.06% | +33.94% | +17.75% | +41.82% | +31.81% | +31.33% | +31.57% | +31.50% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.94B | $2.35B | $2.72B | $2.92B | $2.18B | $1.67B | $2.06B | $2.32B | $1.44B |
| Total operating expenses | $1.94B | $2.35B | $2.72B | $2.92B | $7.59B | $2.78B | $3.34B | $3.93B | $2.33B |
| Operating income | $4.95B | -$345.58M | $2.14B | $926.2M | $461.96M | $851.61M | $1.01B | $1.14B | $721.54M |
| Operating margin | +30.75% | -6.21% | +14.93% | +4.28% | +2.40% | +7.25% | +7.20% | +7.09% | +7.41% |
| EBITDA | $14.98B | $1.35B | $9.5B | $9.17B | $7.13B | $5.55B | $6.83B | $7.92B | $4.83B |
| EBIT | $14.98B | $1.35B | $9.5B | $9.17B | $7.13B | $5.68B | $6.69B | $7.77B | $4.86B |
| Below the line | |||||||||
| Interest expense | $1.13B | $1.64B | $2.95B | $3.31B | $2.3B | $1.89B | $2.23B | $2.64B | $1.54B |
| Interest income | $1.49B | $1.9B | $3.37B | $3.46B | $2.4B | $1.99B | $2.46B | $2.84B | $1.73B |
| Other income / expense | $8.89B | $53.36M | $4.42B | $4.93B | $6.64B | — | — | — | — |
| Pre-tax income | $13.85B | -$292.22M | $6.55B | $5.86B | $7.1B | $4.41B | $4.96B | $5.95B | $3.62B |
| Income tax expense | $1.39B | $125.39M | $1.2B | $954.4M | $953.75M | $697.55M | $836.24M | $951.84M | $574.8M |
| Earnings | |||||||||
| Net income | $4.73B | -$521.66M | $3.73B | $3.08B | $2.37B | $864.97M | $983.53M | $1.18B | $707.9M |
| Net income · continuing ops | $12.45B | -$417.61M | $5.36B | $4.91B | $6.15B | $3.56B | $4.29B | $4.91B | $2.98B |
| Net margin | +29.38% | -9.37% | +26.06% | +14.22% | +12.31% | +7.36% | +7.04% | +7.31% | +7.27% |
| EPS · basic | $7.95 | $-0.79 | $4.24 | $3.47 | $2.51 | $6.28 | $7.74 | $9.10 | $10.10 |
| EPS · diluted | $7.42 | $-0.79 | $4.09 | $3.28 | $2.34 | $6.03 | $7.36 | $8.54 | $9.50 |
| EPS · low estimate | — | — | — | — | — | $5.70 | $6.70 | $8.07 | $8.69 |
| EPS · high estimate | — | — | — | — | — | $6.39 | $7.84 | $9.02 | $10.31 |
| Shares · basic | 582.26M | 749.5M | 867.5M | 887.02M | 890.34M | 897.67M | 897.27M | 885.03M | 893.51M |
| Shares · diluted | 633.09M | 749.5M | 911.79M | 938.91M | 955.76M | 950.9M | 954.69M | 958.56M | 952.77M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 4 | 5 | 3 | 2 |
| Analysts (EPS) | — | — | — | — | — | 10 | 10 | 2 | 1 |
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
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