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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 revenue.

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	17.9%	26.7%	31.0%
Short Term Investments	3.0%	0.7%	0.0%
Accounts Receivable	9.8%	10.3%	12.0%
Prepaid Expenses	3.7%	3.2%	2.8%
Other Current Assets	4.2%	7.9%	5.0%
Total Current Assets	54.1%	60.8%	63.3%
Property,Plant and Equipment	87.8%	73.8%	71.6%
Operating Lease Assets	10.2%	9.1%	9.9%
Goodwill	12.2%	12.6%	15.3%
Intangible Assets	0.0%	0.6%	0.6%
Long Term Investments	3.7%	0.0%	0.0%
Other Noncurrent Assets	4.2%	7.9%	5.0%
Total Assets	182.1%	167.8%	170.2%
Liabilities
Accounts Payable	4.4%	4.7%	3.6%
Accrued Liabilities	15.3%	14.6%	18.3%
Current Portion of Long Term Debt	29.2%	17.5%	13.6%
Operating Lease Liabilities	1.1%	1.2%	1.2%
Other Current Liabilities	2.1%	1.7%	6.6%
Total Current Liabilities	20.8%	20.4%	23.7%
Long Term Debt	29.2%	17.5%	13.6%
Operating Lease Liabilities Noncurrent	11.4%	11.1%	12.8%
Deferred Tax Liabilities	0.0%	8.5%	8.2%
Other Noncurrent Liabilities	2.1%	1.7%	6.6%
Total Liabilities	74.0%	56.8%	56.7%
Equity
Common Stock	0.0%	0.0%	0.0%
Retained Earnings	60.3%	62.3%	60.8%
Accumulated Other Comprehensive Income	0.1%	-1.9%	-1.6%
Total Stockholders Equity	108.1%	111.0%	113.5%
Total Liabilitiesand Equity	182.1%	167.8%	170.2%

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	100.0%	100.0%	100.0%
Expenses Cost of Revenue	18.0%	18.3%	19.2%
Expenses Research and Development	28.5%	26.7%	28.5%
Expenses Selling,General and Administrative	6.0%	5.9%	8.5%
Expenses Depreciation and Amortization	9.0%	9.3%	8.2%
Expenses Share Based Compensation	10.2%	10.1%	10.4%
Expenses Operating Expenses	58.6%	57.8%	65.3%
Other Income Expense Operating Income	41.4%	42.2%	34.7%
Other Income Expense Interest Income	1.1%	1.5%	1.2%
Other Income Expense Interest Expense	0.5%	0.4%	0.3%
Other Income Expense Other Income/expense	0.7%	0.1%	-0.1%
Other Income Expense Income Before Tax	42.8%	43.0%	35.2%
Income Tax Income Tax Expense	12.7%	5.0%	6.2%
net Income net Income	30.1%	37.9%	29.0%
net Income Comprehensive Income	31.8%	37.3%	30.0%
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	1.3%	1.5%	1.9%
Earnings Per Share Weighted Average Shares Diluted	1.3%	1.6%	1.9%

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	30.1%	37.9%	29.0%
Operating Activities Depreciation and Amortization	9.3%	9.4%	8.3%
Operating Activities Stock Based Compensation	10.2%	10.1%	10.4%
Operating Activities Deferred Income Taxes	9.3%	-2.9%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	1.5%	1.5%	5.1%
Operating Activities net Cash From Operating Activities	57.6%	55.5%	52.7%
Investing Activities Capital Expenditures	34.7%	22.6%	20.0%
Investing Activities Purchases of Investments	18.4%	15.5%	2.2%
Investing Activities Proceeds From Sale of Investments	13.4%	9.6%	4.6%
Investing Activities Other Investing Activities	-0.1%	-0.1%	0.0%
Investing Activities net Cash From Investing Activities	-50.8%	-28.7%	-18.2%
Financing Activities Proceeds From Debt	14.9%	6.3%	6.3%
Financing Activities Repurchase of Common Stock	13.1%	18.3%	14.7%
Financing Activities Dividends Paid	2.6%	3.1%	0.0%
Financing Activities Tax Withholding On Stock Based Compensation	9.2%	8.4%	5.2%
Financing Activities Other Financing Activities	1.1%	-0.2%	-0.1%
Financing Activities net Cash From Financing Activities	-10.1%	-24.8%	-14.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.5%	0.1%
Cash Reconciliation net Change In Cash	-3.2%	1.6%	20.2%
Cash Reconciliation Cash At Beginning of Period	19.5%	27.6%	31.7%
Cash Reconciliation Cash At End of Period	19.5%	27.6%	31.7%

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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