$18.10

+0.02 (+0.11%)

Weekly Expected Move ±1.7%

$17 $18 $18 $18 $19

NYSE · Utilities · Regulated Electric · Tech Score Sell · Power 35 · $45.6B mcap · Short 27% of daily vol

Credit Risk of going bust: not rated Debt: 6.3% of company value Bonds: $200.0M held by 244 funds, 78 bp over Treasuries → details ▾

Not rated: n/a (debt or preferred line). Altman Z'' 0.99.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue

$12.9B +9.0% ▲

5Y CAGR: +5.1%

Gross Profit

$3.9B -32.5% ▼

5Y CAGR: -2.8%

Operating Income

$3.1B +15.2% ▲

5Y CAGR: +11.5%

Net Income

$1.8B +67.1% ▲

5Y CAGR: +4.7%

EPS (Diluted)

$3.91 +59.6% ▲

5Y CAGR: +2.5%

EBITDA

$6.1B +22.0% ▲

5Y CAGR: +7.3%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$11.7B	$13.8B	$12.1B	$11.9B	$12.9B
YoY Growth	+16.1%	+17.2%	-11.7%	-2.2%	+9.0%
Cost of Revenue	$6.9B	$8.5B	$6.8B	$6.1B	$9.1B
Gross Profit	$4.9B	$5.3B	$5.3B	$5.7B	$3.9B
Gross Margin	41.5%	38.3%	43.9%	48.3%	29.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$0	$0	$0	$0	$0
Operating Expenses	$3.0B	$3.2B	$2.7B	$3.1B	$819M
Operating Income	$1.8B	$2.1B	$2.6B	$2.7B	$3.1B
Operating Margin	15.7%	14.9%	21.6%	22.3%	23.6%
Interest Expense	$835M	$988M	$1.0B	$1.2B	$1.3B
Income Before Tax	$1.3B	$1.1B	$1.7B	$1.4B	$2.3B
Tax Expense	$191M	-$39M	-$691M	$381M	$498M
Net Income	$1.1B	$1.1B	$2.4B	$1.1B	$1.8B
Net Margin	9.5%	8.0%	19.4%	8.9%	13.7%
EPS (Diluted)	$2.77	$2.69	$5.55	$2.45	$3.91
EBITDA	$4.4B	$4.2B	$4.9B	$5.0B	$6.1B
Shares Outstanding	404M	411M	425M	432M	450M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$3.4B	$2.7B	$2.8B	$3.3B	$3.8B	$3.0B	$3.2B	$3.5B
Cost of Revenue	$1.6B	$1.5B	$1.4B	$1.8B	$2.5B	$2.3B	$1.0B	$1.1B
Gross Profit	$1.8B	$1.3B	$1.5B	$1.6B	$1.3B	$667M	$2.2B	$2.4B
Gross Margin	52.2%	45.7%	51.0%	46.9%	35.2%	22.5%	67.5%	69.4%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$0	$0	$0	$0	$0	$0	$0	$0
Operating Expenses	$643M	$585M	$751M	$725M	$232M	$186M	$1.6B	$1.6B
Operating Income	$1.1B	$670M	$700M	$837M	$1.1B	$481M	$572M	$850M
Operating Margin	33.2%	24.4%	24.6%	25.2%	29.1%	16.2%	18.0%	24.1%
Interest Expense	$295M	$299M	$330M	$322M	$110M	$575M	$400M	$0
Income Before Tax	$861M	$398M	$462M	$610M	$904M	$295M	$479M	$619M
Tax Expense	$215M	$111M	$100M	$138M	$205M	$54M	$94M	$137M
Net Income	$646M	$286M	$361M	$472M	$698M	$241M	$385M	$483M
Net Margin	19.1%	10.4%	12.7%	14.2%	18.3%	8.1%	12.1%	13.7%
EPS (Diluted)	$1.50	$0.65	$0.82	$1.05	$1.53	$0.51	$0.83	$1.03
EBITDA	$1.8B	$1.3B	$1.4B	$1.6B	$1.7B	$1.5B	$565M	$584M
Shares Outstanding	431M	438M	441M	446M	446M	459M	463M	466M

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