Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $2.46B | $2.5B | $2.68B | $2.88B | $3.07B | $3.22B | $3.44B | $3.66B | $3.88B |
| Cost of revenue | $853.7M | $824.6M | $876.5M | $901.1M | $1B | $1.01B | $1.1B | $1.18B | $1.27B |
| Gross profit | $1.61B | $1.67B | $1.8B | $1.98B | $2.07B | $2.19B | $2.39B | $2.47B | $2.62B |
| Gross margin | +65.33% | +66.98% | +67.31% | +68.73% | +67.31% | +68.02% | +69.70% | +67.56% | +67.45% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $313.2M | $381.5M | $391.8M | $408.7M | $450.7M | $462.03M | $505.13M | $544.07M | $568.66M |
| Total operating expenses | $697.4M | $265.9M | $673.2M | $726.7M | $698.5M | $806.93M | $833.25M | $883.96M | $937.97M |
| Operating income | $911.4M | $1.41B | $1.13B | $1.25B | $1.37B | $1.39B | $1.49B | $1.63B | $1.72B |
| Operating margin | +37.01% | +56.33% | +42.21% | +43.51% | +44.58% | +43.28% | +43.41% | +44.59% | +44.21% |
| EBITDA | $1.3B | $1.74B | $1.42B | $1.66B | $1.69B | $1.83B | $1.92B | $2.06B | $2.2B |
| EBIT | $913.5M | $1.4B | $1.14B | $1.35B | $1.38B | $1.42B | $1.55B | $1.65B | $1.73B |
| Below the line | |||||||||
| Interest expense | $127M | $138.8M | $115.5M | $124.6M | $170.9M | $154.41M | $159.56M | $176.12M | $186.15M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$124.9M | -$144.1M | -$104.5M | -$25.3M | -$198.5M | — | — | — | — |
| Pre-tax income | $786.5M | $1.26B | $1.03B | $1.23B | $1.17B | $1.27B | $1.36B | $1.45B | $1.57B |
| Income tax expense | $179.4M | $220.3M | $258.8M | $277.9M | $263M | $296.94M | $311.97M | $332.04M | $366.21M |
| Earnings | |||||||||
| Net income | $666.3M | $954.3M | $614.4M | $957.5M | $908.3M | $899.32M | $1.01B | $1.03B | $1.08B |
| Net income · continuing ops | $607.1M | $1.04B | $768.4M | $950.7M | $908.3M | $1B | $1.07B | $1.11B | $1.17B |
| Net margin | +27.06% | +38.22% | +22.91% | +33.23% | +29.56% | +27.95% | +29.33% | +28.13% | +27.83% |
| EPS · basic | $4.12 | $6.04 | $4.19 | $6.74 | $6.51 | $7.65 | $8.77 | $9.77 | $10.65 |
| EPS · diluted | $4.08 | $6.00 | $4.17 | $6.71 | $6.49 | $7.65 | $8.66 | $9.68 | $10.60 |
| EPS · low estimate | — | — | — | — | — | $7.49 | $8.32 | $9.07 | $10.40 |
| EPS · high estimate | — | — | — | — | — | $7.75 | $8.93 | $10.08 | $10.72 |
| Shares · basic | 161.84M | 157.91M | 146.62M | 142.16M | 139.05M | 137.85M | 139.37M | 138.15M | 138.21M |
| Shares · diluted | 163.34M | 158.93M | 147.34M | 142.84M | 139.11M | 139.46M | 140.36M | 140.07M | 139.51M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 13 | 13 | 10 | 5 |
| Analysts (EPS) | — | — | — | — | — | 13 | 13 | 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