$38.06

+0.57 (+1.52%)

Weekly Expected Move ±2.3%

$36 $37 $38 $39 $40

NYSE · Financial Services · Insurance - Property & Casualty · Tech Score Strong Sell · Power 37 · $9.3B mcap · 224M float · 0.630% daily turnover · Short 54% of daily vol

Revenue Segmentation

By Product / Service

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$9.1B +10.4% ▲

5Y CAGR: +4.9%

Gross Profit

$4.6B -12.1% ▼

5Y CAGR: -0.5%

Operating Income

$1.2B +10.6% ▲

5Y CAGR: +11.5%

Net Income

$936M +9.8% ▲

5Y CAGR: +10.9%

EPS (Diluted)

$3.73 +15.1% ▲

5Y CAGR: +14.8%

EBITDA

$1.2B +7.8% ▲

5Y CAGR: +11.1%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$9.3B	$8.1B	$7.3B	$8.2B	$9.1B
YoY Growth	+30.4%	-13.5%	-10.2%	+13.4%	+10.4%
Cost of Revenue	$2.4B	$2.4B	$2.6B	$3.0B	$4.5B
Gross Profit	$6.9B	$5.7B	$4.7B	$5.2B	$4.6B
Gross Margin	74.3%	70.0%	64.5%	63.3%	50.3%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$0	$0	$0	$0	$0
Operating Expenses	$5.0B	$4.8B	$3.9B	$4.1B	$3.4B
Operating Income	$1.9B	$857M	$747M	$1.1B	$1.2B
Operating Margin	20.6%	10.6%	10.3%	13.0%	13.0%
Interest Expense	$56M	$67M	$70M	$77M	$70M
Income Before Tax	$1.9B	$857M	$747M	$1.1B	$1.2B
Tax Expense	$388M	$171M	$149M	$217M	$242M
Net Income	$1.5B	$686M	$599M	$853M	$936M
Net Margin	16.4%	8.5%	8.2%	10.4%	10.3%
EPS (Diluted)	$5.05	$2.26	$2.10	$3.24	$3.73
EBITDA	$2.0B	$924M	$818M	$1.1B	$1.2B
Shares Outstanding	304M	303M	285M	263M	250M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$2.3B	$2.0B	$2.1B	$2.2B	$2.4B	$2.3B	$2.4B	$2.5B
Cost of Revenue	$809M	$789M	$772M	$826M	$852M	$2.1B	$840M	$897M
Gross Profit	$1.5B	$1.2B	$1.3B	$1.4B	$1.6B	$280M	$1.6B	$1.6B
Gross Margin	65.4%	60.6%	63.5%	62.6%	64.8%	12.0%	65.0%	64.2%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$0	$0	$0	$0	$0	$0	$0	$1.2B
Operating Expenses	$1.1B	$1.1B	$1.0B	$1.1B	$1.2B	$17M	$1.1B	$1.2B
Operating Income	$427M	$131M	$308M	$260M	$353M	$263M	$413M	$437M
Operating Margin	18.2%	6.6%	14.6%	11.8%	14.6%	11.2%	17.2%	17.4%
Interest Expense	$21M	$17M	$18M	$18M	$17M	$17M	$18M	$26M
Income Before Tax	$427M	$131M	$308M	$260M	$353M	$263M	$413M	$410M
Tax Expense	$88M	$26M	$62M	$52M	$73M	$56M	$84M	$86M
Net Income	$339M	$105M	$245M	$204M	$280M	$207M	$330M	$322M
Net Margin	14.5%	5.2%	11.6%	9.3%	11.5%	8.8%	13.8%	12.9%
EPS (Diluted)	$1.32	$0.42	$0.98	$0.81	$1.11	$0.83	$1.32	$1.31
EBITDA	$448M	$148M	$326M	$278M	$370M	$263M	$431M	$437M
Shares Outstanding	257M	250M	250M	250M	250M	250M	250M	246M

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