Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $12.36B | $19.13B | $13.7B | $11.12B | $12.05B | $12.76B | $12.78B | $12.59B | $12.73B |
| Cost of revenue | $9.16B | $13.37B | $11.49B | $9.61B | $10.24B | $11.12B | $11.09B | $10.74B | $10.7B |
| Gross profit | $3.2B | $5.76B | $2.21B | $1.51B | $1.82B | $1.94B | $1.91B | $1.92B | $1.95B |
| Gross margin | +25.90% | +30.10% | +16.14% | +13.59% | +15.08% | +15.18% | +14.96% | +15.29% | +15.30% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $430.5M | $498M | $500.5M | $496.9M | $520.9M | $519.72M | $532.18M | $525.63M | $535.08M |
| Total operating expenses | $731.8M | $970.5M | $872.5M | $890.4M | $767.2M | $901.12M | $863.7M | $870.25M | $904.03M |
| Operating income | $2.47B | $4.79B | $1.34B | $621.5M | $1.05B | $1B | $1.04B | $1.03B | $1.04B |
| Operating margin | +19.98% | +25.02% | +9.77% | +5.59% | +8.71% | +7.84% | +8.10% | +8.17% | +8.19% |
| EBITDA | $3.23B | $5.75B | $2.48B | $1.57B | $2.61B | $2.3B | $2.31B | $2.33B | $2.26B |
| EBIT | $2.42B | $4.81B | $1.51B | $545.4M | $1.43B | $1.15B | $1.22B | $1.14B | $1.17B |
| Below the line | |||||||||
| Interest expense | $194.3M | $168.8M | $189M | $230M | $217.7M | $217.59M | $226.96M | $224.28M | $223.2M |
| Interest income | $25.2M | $31M | $59.6M | $47.2M | $38.3M | $51.47M | $50.33M | $47.99M | $51.08M |
| Other income / expense | -$235.9M | $53.2M | $48.1M | -$232.8M | $165.5M | — | — | — | — |
| Pre-tax income | $2.23B | $4.84B | $1.39B | $388.7M | $1.22B | $995.7M | $1.01B | $982.13M | $985.75M |
| Income tax expense | $597.7M | $1.22B | $177M | $186.7M | $639.8M | $375.14M | $375.64M | $367.53M | $373.8M |
| Earnings | |||||||||
| Net income | $1.63B | $3.58B | $1.16B | $174.9M | $540.7M | $620.58M | $617.9M | $629.03M | $629.74M |
| Net income · continuing ops | $1.63B | $3.61B | $1.21B | $202M | $575.4M | $642.58M | $676.52M | $658.79M | $652.85M |
| Net margin | +13.20% | +18.73% | +8.51% | +1.57% | +4.49% | +4.86% | +4.83% | +5.00% | +4.95% |
| EPS · basic | $4.31 | $10.17 | $3.52 | $0.55 | $1.70 | $0.82 | $1.80 | $1.86 | $1.67 |
| EPS · diluted | $4.27 | $10.06 | $3.50 | $0.55 | $1.70 | $0.81 | $1.81 | $1.83 | $1.68 |
| EPS · low estimate | — | — | — | — | — | $0.47 | $0.89 | $0.97 | $1.46 |
| EPS · high estimate | — | — | — | — | — | $1.22 | $2.55 | $2.52 | $1.90 |
| Shares · basic | 378.1M | 352.4M | 331.3M | 319.8M | 317.3M | 315.58M | 318.21M | 320.19M | 319.08M |
| Shares · diluted | 381.6M | 356M | 333.2M | 320.7M | 318.9M | 320.72M | 321.94M | 319.67M | 317.14M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 12 | 14 | 14 | 9 |
| Analysts (EPS) | — | — | — | — | — | 7 | 10 | 6 | 4 |
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