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Arphra AIPlain-English read on VeriSign, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $1.33B | $1.42B | $1.49B | $1.56B | $1.66B | $1.74B | $1.85B | $2.04B |
| Cost of revenue | $191.93M | $200.7M | $197.3M | $191.4M | $196.3M | $220.47M | $228.08M | $253.96M |
| Gross profit | $1.14B | $1.22B | $1.3B | $1.37B | $1.46B | $1.55B | $1.66B | $1.8B |
| Gross margin | +85.54% | +85.91% | +86.79% | +87.71% | +88.15% | +89.00% | +89.54% | +88.57% |
| Operating | ||||||||
| Research & development | $80.53M | $85.7M | $91M | $96.7M | $103.6M | $110.55M | $113.77M | $127.01M |
| Selling, general & administrative | $188.31M | $195.4M | $204.2M | $211.1M | $235.7M | $242.09M | $258.81M | $284.23M |
| Total operating expenses | $268.84M | $281.1M | $295.2M | $307.8M | $339.3M | $342.35M | $376.79M | $402.56M |
| Operating income | $866.8M | $943.1M | $1B | $1.06B | $1.12B | $1.14B | $1.23B | $1.36B |
| Operating margin | +65.29% | +66.19% | +67.01% | +67.95% | +67.67% | +65.58% | +66.44% | +66.60% |
| EBITDA | $913.41M | $1B | $1.1B | $1.13B | $1.17B | $1.24B | $1.33B | $1.52B |
| EBIT | $865.47M | $955.5M | $1.05B | $1.1B | $1.14B | $1.22B | $1.31B | $1.45B |
| Below the line | ||||||||
| Interest expense | $83.26M | $75.3M | $75.3M | $75.3M | $77M | $84.48M | $91.5M | $97.01M |
| Interest income | $582K | $14.9M | $46.1M | $37.4M | $20.6M | $38.66M | $40.7M | $46.43M |
| Other income / expense | -$84.58M | -$62.9M | -$24.1M | -$36.3M | -$52.5M | — | — | — |
| Pre-tax income | $782.22M | $880.2M | $976.5M | $1.02B | $1.07B | $1.17B | $1.24B | $1.34B |
| Income tax expense | -$2.61M | $206.4M | $158.9M | $236.2M | $242.8M | $238.87M | $255.36M | $274.09M |
| Earnings | ||||||||
| Net income | $784.8M | $673.8M | $817.6M | $785.7M | $825.7M | $889.19M | $981.27M | $1.07B |
| Net income · continuing ops | $784.83M | $673.8M | $817.6M | $785.7M | $825.7M | $917.51M | $945.65M | $1.08B |
| Net margin | +59.12% | +47.29% | +54.76% | +50.45% | +49.84% | +51.10% | +52.93% | +52.57% |
| EPS · basic | $7.01 | $6.24 | $7.91 | $8.01 | $8.83 | $9.79 | $10.61 | $12.24 |
| EPS · diluted | $7.00 | $6.24 | $7.90 | $8.00 | $8.81 | $9.69 | $10.67 | $12.40 |
| EPS · low estimate | — | — | — | — | — | $9.62 | $10.64 | $12.27 |
| EPS · high estimate | — | — | — | — | — | $9.75 | $10.70 | $12.53 |
| Shares · basic | 112.02M | 107.9M | 103.4M | 98.1M | 92.4M | 91.7M | 92.69M | 92.91M |
| Shares · diluted | 112.17M | 108M | 103.5M | 98.2M | 92.6M | 92.72M | 92.28M | 91.87M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 3 | 3 | 2 |
| Analysts (EPS) | — | — | — | — | — | 2 | 2 | 1 |
Coverage notes. Historical figures come’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 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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