$25.51

-0.19 (-0.74%)

Weekly Expected Move ±2.4%

$25 $25 $26 $26 $27

NASDAQ · Energy · Coal · Tech Score Neutral · Power 57 · $3.3B mcap · 91M float · 0.321% daily turnover · Short 45% of daily vol

Credit Distance-to-default 12.47: safer than 88% of companies Altman Z'' 2.85 Bonds: $95.5M held by 71 funds, 267 bp over Treasuries → details ▾

Market-implied (Merton model), prices to 2026-10-19, balance sheet 2026-06-30: equity value $3.31B · debt barrier (short-term + ½ long-term debt) $330.3M · equity volatility 21.3% · risk-free rate 4.28% · solved asset value $3.62B, asset volatility 19.4%.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$2.2B -10.4% ▼

5Y CAGR: +10.6%

Gross Profit

$468M -7.7% ▼

5Y CAGR: +28.5%

Operating Income

$385M -9.4% ▼

5Y CAGR: +39.0%

Net Income

$311M -13.8% ▼

EPS (Diluted)

$2.42 -12.6% ▼

EBITDA

$675M -3.8% ▼

5Y CAGR: +23.6%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.6B	$2.4B	$2.6B	$2.4B	$2.2B
YoY Growth	+18.2%	+54.1%	+6.1%	-4.6%	-10.4%
Cost of Revenue	$1.3B	$1.7B	$1.8B	$1.9B	$1.7B
Gross Profit	$289M	$741M	$751M	$507M	$468M
Gross Margin	18.4%	30.6%	29.3%	20.7%	21.3%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$70M	$80M	$79M	$82M	$83.1B
Operating Expenses	$70M	$80M	$79M	$82M	$83M
Operating Income	$219M	$661M	$672M	$425M	$385M
Operating Margin	14.0%	27.3%	26.2%	17.4%	17.6%
Interest Expense	$39M	$37M	$36M	$35M	$40M
Income Before Tax	$184M	$642M	$644M	$381M	$336M
Tax Expense	$417K	$54M	$8M	$16M	$19M
Net Income	$183M	$586M	$630M	$361M	$311M
Net Margin	11.6%	24.2%	24.5%	14.7%	14.2%
EPS (Diluted)	$1.36	$4.39	$4.81	$2.77	$2.42
EBITDA	$483M	$956M	$949M	$702M	$675M
Shares Outstanding	127M	127M	127M	128M	128M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$614M	$590M	$540M	$547M	$571M	$536M	$516M	$552M
Cost of Revenue	$491M	$526M	$426M	$438M	$445M	$417M	$432M	$349M
Gross Profit	$123M	$64M	$115M	$109M	$126M	$118M	$84M	$203M
Gross Margin	20.0%	10.9%	21.3%	19.9%	22.1%	22.1%	16.2%	36.7%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$22M	$18M	$21M	$20M	$21M	$20.8B	$24M	$26M
Operating Expenses	$22M	$49M	$21M	$20M	$21M	$21M	$24M	$107M
Operating Income	$101M	$15M	$94M	$89M	$105M	$97M	$60M	$96M
Operating Margin	16.5%	2.6%	17.4%	16.2%	18.4%	18.2%	11.6%	17.3%
Interest Expense	$10M	$9M	$8M	$9M	$11M	$11M	$12M	$13M
Income Before Tax	$91M	$21M	$80M	$66M	$103M	$87M	$13M	$88M
Tax Expense	$4M	$3M	$4M	$5M	$6M	$3M	$3M	$6M
Net Income	$86M	$16M	$74M	$59M	$95M	$83M	$9M	$80M
Net Margin	14.1%	2.8%	13.7%	10.9%	16.6%	15.4%	1.8%	14.4%
EPS (Diluted)	$0.66	$0.13	$0.57	$0.46	$0.74	$0.64	$0.07	$0.61
EBITDA	$174M	$110M	$157M	$152M	$192M	$174M	$108M	$177M
Shares Outstanding	128M	128M	128M	128M	128M	128M	129M	129M

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