FirmAtlas
Company handbook · AAPL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
AAPL · CIK 320193 · LATEST FILING: 10-Q JUN '26 · FILED JUL 31, 2026
Apple Inc.
$343.47
+1.47 (+0.43%)
Last trade 3:59 PM ET, Oct 16, 2026 · 52-week $243–348
Apple designs and sells iPhones, Mac computers, iPads, wearables such as the Apple Watch and AirPods, and home products. It also sells services for these devices: the App Store, iCloud, AppleCare, Apple Music, Apple TV, advertising, and payments (Apple Card, Apple Pay).
- SegmentsAmericas 43% · Europe 27% · Greater China 15% · Rest of Asia Pacific 8% · Japan 7% (FY25)
- ProductsiPhone 50% · Services 26% · Wearables 9% · Mac 8% · iPad 7% (FY25)
- CustomersConsumers, businesses, schools and governments; sold in its own stores and online, and through phone carriers and other resellers
- ChangeServices 26% of revenue in FY25, up from 9% in FY15
- Cash useFY16–FY25: buybacks $713.2B · dividends $141.4B · capex $111.2B · acquisitions $3.8B
Reinvested 12% of operating cash flow · returned 105% of free cash flow
Last fiscal year
Apple Inc. reported revenue of $416.2B for the year ended Sep 27, 2025 (FY25), up 6.4% from FY24. Net income was $112.0B, operating cash flow $111.5B and free cash flow $98.8B. Source: 10-K filed Oct 31, 2025.
Tim Cook moved from CEO to Executive Chair on September 1, 2026, and John Ternus, Senior Vice President of Hardware Engineering, became CEO; Art Levinson moved from Chair to Lead Independent Director.
8-K · Apr 2026In the Epic Games case, the Ninth Circuit in December 2025 upheld in part the injunction barring commissions on purchases made outside an app, but held Apple can charge some commission on link-out purchases. On June 30, 2026, the Supreme Court agreed to review the standard for civil contempt in the case.
10-Q Jun '26R&D was $11,729 million in the June 2026 quarter against $8,866 million a year earlier.
10-Q Jun '26
As of 2026-10-16 · Opinion only, not investment advice or a forecast.
Market cap
$5.07T
P/E
39.4
EV/EBITDA
35.4x
P/B
47.2
Div yield
0.31%
ROIC
103.9%
Revenue 10Y
5.9%/yr
EPS 10Y
12.5%/yr
Shares 10Y
−34%
Share count down 34% in 10 years.
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJohn Patrick Ternus
HQCupertino, CA
AuditorErnst & Young LLP
Employees166,000
Year endsSeptember
Revenue by segment · FY25
Americas43%
Europe27%
Greater China15%
Rest of Asia Pacific8%
Japan7%
Compounded growth & averages
10Y
5Y
3Y
TTM
Revenue
5.9%
8.7%
1.8%
14.2%
Net income
7.7%
14.3%
3.9%
29.9%
EPS
12.5%
17.9%
6.9%
32.4%
Share price
27.9%
18.9%
24.3%
38.8%
Avg ROIC
67.5%
92.2%
92.4%
103.9%
Dividend / share
7.3%
4.7%
3.9%
—
The windows end at FY25, the highest net income in the record.
Net income fell in 4 of the last 10 years.
Dividend per share raised every year for 10 years.
Growth rows are yearly compound rates; ROIC is an average.
TTM = last four quarters vs the four before (1Y for price, latest year for averages).
Where the cash went · FY16–FY25
$969.7B deployed
Capex
$111.2B
11.5%
Acquisitions
$3.8B
0.4%
Dividends
$141.4B
14.6%
Buybacks
$713.2B
73.6%
Operating cash flow over the period: $924.4B. Total debt changed by +$36.8B. R&D of $214.8B is already inside operating costs.
Paid out more than free cash flow in FY21, FY24–25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
After-tax operating profit growth, split into its two engines · A = FY22, B = FY25 · A = FY20, B = FY25 · A = FY15, B = FY25
Capital-light
Decomposition skipped. Returns on invested capital run above ~100%, so ROIIC math breaks here. Read the business through earnings and cash-flow compounding instead.
NOPAT growth
+3.9%
After-tax operating profit, CAGR A to B
FCF per share growth
−1.5%
Free cash flow ÷ shares, CAGR A to B
Capital = operating invested capital (net PP&E + working capital)
Capital-light
Decomposition skipped. Returns on invested capital run above ~100%, so ROIIC math breaks here. Read the business through earnings and cash-flow compounding instead.
NOPAT growth
+14.6%
After-tax operating profit, CAGR A to B
FCF per share growth
+9.1%
Free cash flow ÷ shares, CAGR A to B
Capital = operating invested capital (net PP&E + working capital)
Capital-light
Decomposition skipped. Returns on invested capital run above ~100%, so ROIIC math breaks here. Read the business through earnings and cash-flow compounding instead.
NOPAT growth
+7.9%
After-tax operating profit, CAGR A to B
FCF per share growth
+7.9%
Free cash flow ÷ shares, CAGR A to B
Capital = operating invested capital (net PP&E + working capital)
Financials
10-year record · USD millions · each year opens its 10-K · FY25 = year ended Sep 27, 2025 · change vs previous year
Last 8 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (4-for-1 split after FY18).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
215,639−7.7%
229,234+6.3%
265,595+15.9%
260,174−2.0%
274,515+5.5%
365,817+33.3%
394,328+7.8%
383,285−2.8%
391,035+2.0%
416,161+6.4%
466,823
YoY
−7.7%
+6.3%
+15.9%
−2.0%
+5.5%
+33.3%
+7.8%
−2.8%
+2.0%
+6.4%
Gross profit
84,263−10.0%
88,186+4.7%
101,839+15.5%
98,392−3.4%
104,956+6.7%
152,836+45.6%
170,782+11.7%
169,148−1.0%
180,683+6.8%
195,201+8.0%
227,123
Gross margin
39.1%−1.0 pp
38.5%−0.6 pp
38.3%−0.1 pp
37.8%−0.5 pp
38.2%+0.4 pp
41.8%+3.5 pp
43.3%+1.5 pp
44.1%+0.8 pp
46.2%+2.1 pp
46.9%+0.7 pp
—
Operating income
60,024−15.7%
61,344+2.2%
70,898+15.6%
63,930−9.8%
66,288+3.7%
108,949+64.4%
119,437+9.6%
114,301−4.3%
123,216+7.8%
133,050+8.0%
154,859
Operating margin
27.8%−2.6 pp
26.8%−1.1 pp
26.7%−0.1 pp
24.6%−2.1 pp
24.1%−0.4 pp
29.8%+5.6 pp
30.3%+0.5 pp
29.8%−0.5 pp
31.5%+1.7 pp
32.0%+0.5 pp
—
EBITDA
70,529−12.3%
71,501+1.4%
81,801+14.4%
76,477−6.5%
77,344+1.1%
120,233+55.5%
130,541+8.6%
125,820−3.6%
134,661+7.0%
144,748+7.5%
—
EBITDA margin
32.7%−1.7 pp
31.2%−1.5 pp
30.8%−0.4 pp
29.4%−1.4 pp
28.2%−1.2 pp
32.9%+4.7 pp
33.1%+0.2 pp
32.8%−0.3 pp
34.4%+1.6 pp
34.8%+0.3 pp
—
Interest expense
1,456+98.6%
2,323+59.5%
3,240+39.5%
3,576+10.4%
2,873−19.7%
2,645−7.9%
2,931+10.8%
3,933+34.2%
—
—
—
Interest coverage
48.44x−61.29x
30.78x−17.66x
25.25x−5.53x
21.39x−3.86x
26.92x+5.53x
45.46x+18.54x
44.54x−0.92x
31.99x−12.55x
—
—
—
Net income
45,687−14.4%
48,351+5.8%
59,531+23.1%
55,256−7.2%
57,411+3.9%
94,680+64.9%
99,803+5.4%
96,995−2.8%
93,736−3.4%
112,010+19.5%
128,930
YoY
−14.4%
+5.8%
+23.1%
−7.2%
+3.9%
+64.9%
+5.4%
−2.8%
−3.4%
+19.5%
Net margin
21.2%−1.7 pp
21.1%−0.1 pp
22.4%+1.3 pp
21.2%−1.2 pp
20.9%−0.3 pp
25.9%+5.0 pp
25.3%−0.6 pp
25.3%−0.0 pp
24.0%−1.3 pp
26.9%+2.9 pp
—
EPS (diluted, $)
2.08−9.9%
2.30+10.8%
2.98+29.4%
2.97−0.3%
3.28+10.4%
5.61+71.0%
6.11+8.9%
6.13+0.3%
6.08−0.8%
7.46+22.7%
8.73
YoY
−9.9%
+10.8%
+29.4%
−0.3%
+10.4%
+71.0%
+8.9%
+0.3%
−0.8%
+22.7%
Balance sheet
Total assets
321,686+10.8%
375,319+16.7%
365,725−2.6%
338,516−7.4%
323,888−4.3%
351,002+8.4%
352,755+0.5%
352,583−0.0%
364,980+3.5%
359,241−1.6%
383,266
Cash & short-term investments
67,155+61.4%
74,181+10.5%
66,301−10.6%
101,937+53.7%
92,716−9.0%
63,628−31.4%
49,635−22.0%
62,327+25.6%
65,171+4.6%
54,697−16.1%
—
Accounts receivable
15,754−6.5%
17,874+13.5%
23,186+29.7%
22,926−1.1%
16,120−29.7%
26,278+63.0%
28,184+7.3%
29,508+4.7%
33,410+13.2%
39,777+19.1%
—
Inventory
2,132−9.2%
4,855+127.7%
3,956−18.5%
4,106+3.8%
4,061−1.1%
6,580+62.0%
4,946−24.8%
6,331+28.0%
7,286+15.1%
5,718−21.5%
—
Net PP&E
27,010+20.2%
33,783+25.1%
41,304+22.3%
37,378−9.5%
36,766−1.6%
39,440+7.3%
42,117+6.8%
43,715+3.8%
45,680+4.5%
49,834+9.1%
—
Other assets
209,635+1.2%
244,626+16.7%
230,978−5.6%
172,169−25.5%
174,225+1.2%
215,076+23.4%
227,873+5.9%
210,702−7.5%
213,433+1.3%
209,215−2.0%
—
Total liabilities
193,437+13.1%
241,272+24.7%
258,578+7.2%
248,028−4.1%
258,549+4.2%
287,912+11.4%
302,083+4.9%
290,437−3.9%
308,030+6.1%
285,508−7.3%
275,746
Accounts payable
37,294+5.1%
44,242+18.6%
55,888+26.3%
46,236−17.3%
42,296−8.5%
54,763+29.5%
64,115+17.1%
62,611−2.3%
68,960+10.1%
69,860+1.3%
—
Total debt
83,532+35.1%
109,184+30.7%
105,699−3.2%
97,787−7.5%
103,663+6.0%
115,106+11.0%
120,069+4.3%
111,088−7.5%
106,629−4.0%
98,657−7.5%
84,297
Other liabilities
72,611−1.4%
87,846+21.0%
96,991+10.4%
104,005+7.2%
112,590+8.3%
118,043+4.8%
117,899−0.1%
116,738−1.0%
132,441+13.5%
116,991−11.7%
—
Shareholders’ equity
128,249+7.5%
134,047+4.5%
107,147−20.1%
90,488−15.5%
65,339−27.8%
63,090−3.4%
50,672−19.7%
62,146+22.6%
56,950−8.4%
73,733+29.5%
107,520
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
66,231−18.5%
64,225−3.0%
77,434+20.6%
69,391−10.4%
80,674+16.3%
104,038+29.0%
122,151+17.4%
110,543−9.5%
118,254+7.0%
111,482−5.7%
146,724
Net income
45,687−14.4%
48,351+5.8%
59,531+23.1%
55,256−7.2%
57,411+3.9%
94,680+64.9%
99,803+5.4%
96,995−2.8%
93,736−3.4%
112,010+19.5%
—
Depreciation & amortization
10,505+14.2%
10,157−3.3%
10,903+7.3%
12,547+15.1%
11,056−11.9%
11,284+2.1%
11,104−1.6%
11,519+3.7%
11,445−0.6%
11,698+2.2%
—
Stock-based compensation
4,210+17.4%
4,840+15.0%
5,340+10.3%
6,068+13.6%
6,829+12.5%
7,906+15.8%
9,038+14.3%
10,833+19.9%
11,688+7.9%
12,863+10.1%
—
Working capital & other
5,829−61.4%
877−85.0%
1,660+89.3%
(4,480)−369.9%
5,378n/m
(9,832)−282.8%
2,206n/m
(8,804)−499.1%
1,385n/m
(25,089)−1911.5%
—
Cash from investing
(45,977)n/m
(46,446)n/m
16,066n/m
45,896+185.7%
(4,289)−109.3%
(14,545)n/m
(22,354)n/m
3,705n/m
2,935−20.8%
15,195+417.7%
—
Capex
(12,734)n/m
(12,451)n/m
(13,313)n/m
(10,495)n/m
(7,309)n/m
(11,085)n/m
(10,708)n/m
(10,959)n/m
(9,447)n/m
(12,715)n/m
—
Acquisitions
(297)n/m
(329)n/m
(721)n/m
(624)n/m
(1,524)n/m
(33)n/m
(306)n/m
—
—
—
—
Investments bought
(142,428)n/m
(159,486)n/m
(71,356)n/m
(39,630)n/m
(114,938)n/m
(109,558)n/m
(76,923)n/m
(29,513)n/m
(48,656)n/m
(24,407)n/m
—
Investments sold / matured
21,258+46.2%
31,775+49.5%
55,881+75.9%
40,102−28.2%
69,918+74.4%
59,023−15.6%
29,917−49.3%
39,686+32.7%
51,211+29.0%
40,907−20.1%
—
Other investing
88,224−17.7%
94,045+6.6%
45,575−51.5%
56,543+24.1%
49,564−12.3%
47,108−5.0%
35,666−24.3%
4,491−87.4%
9,827+118.8%
11,410+16.1%
—
Cash from financing
(20,890)n/m
(17,974)n/m
(87,876)n/m
(90,976)n/m
(86,820)n/m
(93,353)n/m
(110,749)n/m
(108,488)n/m
(121,983)n/m
(120,686)n/m
—
Debt raised
24,954−8.0%
28,662+14.9%
6,969−75.7%
6,963−0.1%
16,091+131.1%
20,393+26.7%
5,465−73.2%
5,228−4.3%
0−100.0%
4,481n/m
—
Debt repaid
(2,500)n/m
(3,500)n/m
(6,500)n/m
(8,805)n/m
(12,629)n/m
(8,750)n/m
(9,543)n/m
(11,151)n/m
(9,958)n/m
(10,932)n/m
—
Dividends
(11,965)n/m
(12,563)n/m
(13,712)n/m
(14,119)n/m
(14,081)n/m
(14,467)n/m
(14,841)n/m
(15,025)n/m
(15,234)n/m
(15,421)n/m
—
Buybacks
(29,722)n/m
(32,900)n/m
(72,738)n/m
(66,897)n/m
(72,358)n/m
(85,971)n/m
(89,402)n/m
(77,550)n/m
(94,949)n/m
(90,711)n/m
—
Shares issued
495−8.8%
555+12.1%
669+20.5%
781+16.7%
880+12.7%
1,105+25.6%
—
—
—
—
—
Other financing
(2,152)−249.3%
1,772n/m
(2,564)−244.7%
(8,899)n/m
(4,723)n/m
(5,663)n/m
(2,428)n/m
(9,990)n/m
(1,842)n/m
(8,103)n/m
—
Net change in cash
(636)−108.7%
(195)n/m
5,624n/m
24,311+332.3%
(10,435)−142.9%
(3,860)n/m
(10,952)n/m
5,760n/m
(794)−113.8%
5,991n/m
—
Free cash flow (OCF − capex)
53,497−23.6%
51,774−3.2%
64,121+23.8%
58,896−8.1%
73,365+24.6%
92,953+26.7%
111,443+19.9%
99,584−10.6%
108,807+9.3%
98,767−9.2%
136,683
Where the cash went
Operating cash flow
66,231−18.5%
64,225−3.0%
77,434+20.6%
69,391−10.4%
80,674+16.3%
104,038+29.0%
122,151+17.4%
110,543−9.5%
118,254+7.0%
111,482−5.7%
146,724
Reinvested in the business
13,031+12.4%
12,780−1.9%
14,034+9.8%
11,119−20.8%
8,833−20.6%
11,118+25.9%
11,014−0.9%
10,959−0.5%
9,447−13.8%
12,715+34.6%
—
% of operating cash flow
19.7%
19.9%
18.1%
16.0%
10.9%
10.7%
9.0%
9.9%
8.0%
11.4%
Capex
12,734+13.2%
12,451−2.2%
13,313+6.9%
10,495−21.2%
7,309−30.4%
11,085+51.7%
10,708−3.4%
10,959+2.3%
9,447−13.8%
12,715+34.6%
10,041
Acquisitions
297−13.4%
329+10.8%
721+119.1%
624−13.5%
1,524+144.2%
33−97.8%
306+827.3%
—
—
—
—
R&D (memo, already in costs)
10,045+24.5%
11,581+15.3%
14,236+22.9%
16,217+13.9%
18,752+15.6%
21,914+16.9%
26,251+19.8%
29,915+14.0%
31,370+4.9%
34,550+10.1%
—
Free cash flow
53,497−23.6%
51,774−3.2%
64,121+23.8%
58,896−8.1%
73,365+24.6%
92,953+26.7%
111,443+19.9%
99,584−10.6%
108,807+9.3%
98,767−9.2%
136,683
YoY
−23.6%
−3.2%
+23.8%
−8.1%
+24.6%
+26.7%
+19.9%
−10.6%
+9.3%
−9.2%
Returned to shareholders
41,687−11.0%
45,463+9.1%
86,450+90.2%
81,016−6.3%
86,439+6.7%
100,438+16.2%
104,243+3.8%
92,575−11.2%
110,183+19.0%
106,132−3.7%
—
% of free cash flow
77.9%
87.8%
134.8%
137.6%
117.8%
108.1%
93.5%
93.0%
101.3%
107.5%
Dividends
11,965+3.5%
12,563+5.0%
13,712+9.1%
14,119+3.0%
14,081−0.3%
14,467+2.7%
14,841+2.6%
15,025+1.2%
15,234+1.4%
15,421+1.2%
—
Buybacks
29,722−15.7%
32,900+10.7%
72,738+121.1%
66,897−8.0%
72,358+8.2%
85,971+18.8%
89,402+4.0%
77,550−13.3%
94,949+22.4%
90,711−4.5%
—
Change in total debt
21,704
25,652+18.2%
(3,485)−113.6%
(7,912)n/m
5,876n/m
11,443+94.7%
4,963−56.6%
(8,981)−281.0%
(4,459)n/m
(7,972)n/m
—
Cash left over
33,217
31,634−4.8%
(26,535)−183.9%
(30,656)n/m
(8,722)n/m
3,925n/m
11,857+202.1%
(1,972)−116.6%
(5,835)n/m
(15,337)n/m
—
FCF conversion (FCF ÷ net income)
117.1%−14.0 pp
107.1%−10.0 pp
107.7%+0.6 pp
106.6%−1.1 pp
127.8%+21.2 pp
98.2%−29.6 pp
111.7%+13.5 pp
102.7%−9.0 pp
116.1%+13.4 pp
88.2%−27.9 pp
—
Owner earnings
46,574
48,162+3.4%
64,354+33.6%
47,766−25.8%
64,069+34.1%
94,669+47.8%
109,279+15.4%
93,342−14.6%
97,226+4.2%
107,094+10.1%
—
Owner earnings margin
21.6%
21.0%−0.6 pp
24.2%+3.2 pp
18.4%−5.9 pp
23.3%+5.0 pp
25.9%+2.5 pp
27.7%+1.8 pp
24.4%−3.4 pp
24.9%+0.5 pp
25.7%+0.9 pp
—
Buyback yield
4.9%−0.6 pp
4.2%−0.8 pp
6.8%+2.6 pp
6.9%+0.1 pp
3.8%−3.1 pp
3.6%−0.2 pp
3.7%+0.2 pp
2.9%−0.8 pp
2.8%−0.2 pp
2.4%−0.4 pp
—
Returns & ratios
ROIC (all capital)
31.4%−6.1 pp
29.5%−1.9 pp
36.7%+7.2 pp
46.1%+9.5 pp
69.8%+23.6 pp
99.0%+29.2 pp
84.9%−14.0 pp
84.0%−0.9 pp
89.4%+5.3 pp
103.9%+14.5 pp
—
ROIC (operating)
648.5%−200.3 pp
465.8%−182.7 pp
466.4%+0.6 pp
349.7%−116.6 pp
345.6%−4.1 pp
586.9%+241.3 pp
698.2%+111.3 pp
694.4%−3.8 pp
544.4%−150.0 pp
523.6%−20.8 pp
—
Net debt / EBITDA
0.23x−0.02x
0.49x+0.26x
0.48x−0.01x
−0.05x−0.54x
0.14x+0.20x
0.43x+0.29x
0.54x+0.11x
0.39x−0.15x
0.31x−0.08x
0.30x−0.00x
—
Debt / equity
0.65x+0.13x
0.81x+0.16x
0.99x+0.17x
1.08x+0.09x
1.59x+0.51x
1.82x+0.24x
2.37x+0.55x
1.79x−0.58x
1.87x+0.08x
1.34x−0.53x
—
Cash conversion cycle (days)
−71−11 d
−73−2 d
−84−10 d
−63+21 d
−61+2 d
−56+5 d
−71−14 d
−68+3 d
−76−8 d
−71+5 d
—
ROE
35.6%−9.1 pp
36.1%+0.4 pp
55.6%+19.5 pp
61.1%+5.5 pp
87.9%+26.8 pp
150.1%+62.2 pp
197.0%+46.9 pp
156.1%−40.9 pp
164.6%+8.5 pp
151.9%−12.7 pp
—
ROA
14.2%−4.2 pp
12.9%−1.3 pp
16.3%+3.4 pp
16.3%+0.0 pp
17.7%+1.4 pp
27.0%+9.2 pp
28.3%+1.3 pp
27.5%−0.8 pp
25.7%−1.8 pp
31.2%+5.5 pp
—
ROCE
24.7%−9.2 pp
22.3%−2.4 pp
28.4%+6.0 pp
27.5%−0.9 pp
30.3%+2.9 pp
48.3%+18.0 pp
60.1%+11.8 pp
55.1%−4.9 pp
65.3%+10.2 pp
68.7%+3.4 pp
—
NOPAT
44,684−14.8%
46,280+3.6%
57,894+25.1%
53,737−7.2%
56,724+5.6%
94,456+66.5%
100,083+6.0%
97,477−2.6%
93,532−4.0%
112,281+20.0%
—
Invested capital (operating)
7,602+23.0%
12,270+61.4%
12,558+2.3%
18,174+44.7%
14,651−19.4%
17,535+19.7%
11,132−36.5%
16,943+52.2%
17,416+2.8%
25,469+46.2%
—
Invested capital (all)
144,626+3.6%
169,050+16.9%
146,545−13.3%
86,338−41.1%
76,286−11.6%
114,568+50.2%
121,106+5.7%
110,907−8.4%
98,408−11.3%
117,693+19.6%
—
Reinvestment rate
3.2%
10.1%+6.9 pp
0.5%−9.6 pp
10.5%+10.0 pp
−6.2%−16.7 pp
3.1%+9.3 pp
−6.4%−9.5 pp
6.0%+12.4 pp
0.5%−5.5 pp
7.2%+6.7 pp
—
Debtor days
27+0 d
28+2 d
32+3 d
32+0 d
21−11 d
26+5 d
26−0 d
28+2 d
31+3 d
35+4 d
—
Inventory days
6−0 d
13+7 d
9−4 d
9+0 d
9−1 d
11+3 d
8−3 d
11+3 d
13+2 d
9−3 d
—
Days payable
104+11 d
114+11 d
125+10 d
104−20 d
91−13 d
94+3 d
105+11 d
107+2 d
120+13 d
115−4 d
—
Income
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
94,930
124,300
95,359
94,036
102,466+7.9%
143,756+15.7%
111,184+16.6%
109,417+16.4%
vs year-ago quarter
+7.9%
+15.7%
+16.6%
+16.4%
Gross profit
43,879
58,275
44,867
43,718
48,341+10.2%
69,231+18.8%
54,781+22.1%
54,770+25.3%
Gross margin
46.2%
46.9%
47.1%
46.5%
47.2%+1.0 pp
48.2%+1.3 pp
49.3%+2.2 pp
50.1%+3.6 pp
Operating income
29,591
42,832
29,589
28,202
32,427+9.6%
50,852+18.7%
35,885+21.3%
35,695+26.6%
Net income
14,736
36,330
24,780
23,434
27,466+86.4%
42,097+15.9%
29,578+19.4%
29,789+27.1%
vs year-ago quarter
+86.4%
+15.9%
+19.4%
+27.1%
Net margin
15.5%
29.2%
26.0%
24.9%
26.8%+11.3 pp
29.3%+0.1 pp
26.6%+0.6 pp
27.2%+2.3 pp
EPS (diluted, $)
0.97
2.40
1.65
1.57
1.86+90.7%
2.84+18.3%
2.01+21.8%
2.02+28.7%
vs year-ago quarter
+90.7%
+18.3%
+21.8%
+28.7%
Balance sheet
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
364,980
344,085
331,233
331,495
359,241−1.6%
379,297+10.2%
371,082+12.0%
383,266+15.6%
Cash & equivalents
65,171
30,299
28,162
36,269
54,697−16.1%
45,317+49.6%
45,572+61.8%
39,544+9.0%
Total debt
106,629
96,795
98,182
101,723
98,657−7.5%
90,497−6.5%
84,697−13.7%
84,297−17.1%
Shareholders’ equity
56,950
66,758
66,796
65,830
73,733+29.5%
88,190+32.1%
106,491+59.4%
107,520+63.3%
Cash flow
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
26,811
29,935
23,952
27,867
29,728+10.9%
53,925+80.1%
28,702+19.8%
34,369+23.3%
Capex
2,908
2,940
3,071
3,462
3,242+11.5%
2,373−19.3%
1,971−35.8%
2,455−29.1%
Free cash flow
23,903
26,995
20,881
24,405
26,486+10.8%
51,552+91.0%
26,731+28.0%
31,914+30.8%
vs year-ago quarter
+10.8%
+91.0%
+28.0%
+30.8%