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Communication Services Interactive Media & Services Menlo Park, California Last filing Jan 29, 2026 · FY2025

                    Revenue
                    FY2025
                
$201.0B
                    3y CAGR +19.9%
                    
                    P89
                    
                    +22.2%
                    
                    Net income
                    FY2025
                
$60.5B
                    Net margin +30.1%
                    
                    P95
                    
                    -3.1%
                    
                    Total assets
                    FY2025
                
$366.0B
                    ROA +16.5%
                    
                    P89
                    
                    +32.6%
                    
                    Operating cash flow
                    FY2025
                
$115.8B
                    FCF margin +22.9%
                    
                    P82
                    
                    +26.8%

16 yrs · FY2010–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 3 years

Total assets $366.0B

Total liabilities $148.8B

Shareholders equity $217.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	9.8%	15.9%	18.2%
Short Term Investments	1.6%	0.4%	0.0%
Accounts Receivable	5.4%	6.2%	7.0%
Prepaid Expenses	2.0%	1.9%	1.7%
Other Current Assets	2.3%	4.7%	3.0%
Total Current Assets	29.7%	36.2%	37.2%
Property,Plant and Equipment	48.2%	44.0%	42.1%
Operating Lease Assets	5.6%	5.4%	5.8%
Goodwill	6.7%	7.5%	9.0%
Intangible Assets	0.0%	0.3%	0.3%
Long Term Investments	2.0%	0.0%	0.0%
Other Noncurrent Assets	2.3%	4.7%	3.0%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	2.4%	2.8%	2.1%
Accrued Liabilities	8.4%	8.7%	10.7%
Current Portion of Long Term Debt	16.0%	10.4%	8.0%
Operating Lease Liabilities	0.6%	0.7%	0.7%
Other Current Liabilities	1.2%	1.0%	3.9%
Total Current Liabilities	11.4%	12.2%	13.9%
Long Term Debt	16.0%	10.4%	8.0%
Operating Lease Liabilities Noncurrent	6.3%	6.6%	7.5%
Deferred Tax Liabilities	0.0%	5.1%	4.8%
Other Noncurrent Liabilities	1.2%	1.0%	3.9%
Total Liabilities	40.6%	33.8%	33.3%
Equity
Common Stock	0.0%	0.0%	0.0%
Retained Earnings	33.1%	37.1%	35.7%
Accumulated Other Comprehensive Income	0.1%	-1.1%	-0.9%
Total Stockholders Equity	59.4%	66.2%	66.7%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $201.0B

Operating income $83.3B

Net income $60.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	54.9%	59.6%	58.7%
Expenses Cost of Revenue	9.9%	10.9%	11.3%
Expenses Research and Development	15.7%	15.9%	16.8%
Expenses Selling,General and Administrative	3.3%	3.5%	5.0%
Expenses Depreciation and Amortization	4.9%	5.5%	4.8%
Expenses Share Based Compensation	5.6%	6.0%	6.1%
Expenses Operating Expenses	32.2%	34.5%	38.4%
Other Income Expense Operating Income	22.8%	25.1%	20.4%
Other Income Expense Interest Income	0.6%	0.9%	0.7%
Other Income Expense Interest Expense	0.3%	0.2%	0.2%
Other Income Expense Other Income/expense	0.4%	0.1%	-0.1%
Other Income Expense Income Before Tax	23.5%	25.6%	20.7%
Income Tax Income Tax Expense	7.0%	3.0%	3.6%
net Income net Income	16.5%	22.6%	17.0%
net Income Comprehensive Income	17.4%	22.2%	17.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.7%	0.9%	1.1%
Earnings Per Share Weighted Average Shares Diluted	0.7%	0.9%	1.1%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $115.8B

Investing cash flow $-102.0B

Financing cash flow $-20.4B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	16.5%	22.6%	17.0%
Operating Activities Depreciation and Amortization	5.1%	5.6%	4.9%
Operating Activities Stock Based Compensation	5.6%	6.0%	6.1%
Operating Activities Deferred Income Taxes	5.1%	-1.7%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	0.8%	0.9%	3.0%
Operating Activities net Cash From Operating Activities	31.6%	33.1%	31.0%
Investing Activities Capital Expenditures	19.0%	13.5%	11.8%
Investing Activities Purchases of Investments	10.1%	9.3%	1.3%
Investing Activities Proceeds From Sale of Investments	7.3%	5.7%	2.7%
Investing Activities Other Investing Activities	-0.0%	-0.1%	0.0%
Investing Activities net Cash From Investing Activities	-27.9%	-17.1%	-10.7%
Financing Activities Proceeds From Debt	8.2%	3.8%	3.7%
Financing Activities Repurchase of Common Stock	7.2%	10.9%	8.6%
Financing Activities Dividends Paid	1.5%	1.8%	0.0%
Financing Activities Tax Withholding On Stock Based Compensation	5.0%	5.0%	3.1%
Financing Activities Other Financing Activities	0.6%	-0.1%	-0.0%
Financing Activities net Cash From Financing Activities	-5.6%	-14.8%	-8.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.3%	0.0%
Cash Reconciliation net Change In Cash	-1.7%	0.9%	11.9%
Cash Reconciliation Cash At Beginning of Period	10.7%	16.5%	18.7%
Cash Reconciliation Cash At End of Period	10.7%	16.5%	18.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+82.0%	+81.7%	+80.8%
Operating margin	+41.4%	+42.2%	+34.7%
Net margin	+30.1%	+37.9%	+29.0%
FCF margin	+22.9%	+32.9%	+32.7%
Growth
Revenue CAGR (3y)	+19.9%	+11.7%	+16.2%
Returns
ROE	+27.8%	+34.1%	+25.5%
ROA	+16.5%	+22.6%	+17.0%
ROIC	+19.6%	+31.2%	+26.0%
Liquidity
Current ratio	2.60x	2.98x	2.67x
Quick ratio	1.33x	1.81x	1.82x
Leverage
D/E	0.68x	0.51x	0.50x
Interest coverage	76.40x	101.58x	104.82x
Efficiency
Asset turnover	0.55x	0.60x	0.59x
Cash conversion cycle	—	—	—

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