Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $2.94B | $4.19B | $7.79B | $9.32B | $10.23B | $6.96B | $7.8B | $8.95B | $9.78B |
| Cost of revenue | $635M | $778M | $913M | $1.02B | $1.05B | $749.79M | $854.17M | $1.01B | $1.05B |
| Gross profit | $2.31B | $3.41B | $6.87B | $8.3B | $9.19B | $6.03B | $6.86B | $8.09B | $8.7B |
| Gross margin | +78.40% | +81.44% | +88.28% | +89.04% | +89.78% | +86.56% | +87.90% | +90.38% | +88.97% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $209M | $198M | $252M | $353M | $279M | $220.91M | $246.79M | $290.42M | $314.93M |
| Total operating expenses | $289M | $288M | $351M | $454M | $388M | $302.27M | $335.79M | $382.18M | $417.12M |
| Operating income | $2.02B | $3.13B | $6.52B | $7.84B | $8.8B | $6.02B | $6.54B | $7.66B | $8.51B |
| Operating margin | +68.57% | +74.57% | +83.77% | +84.17% | +85.99% | +86.44% | +83.77% | +85.55% | +86.99% |
| EBITDA | $2.09B | $3.11B | $6.6B | $7.99B | $9.09B | $6B | $6.74B | $7.9B | $8.65B |
| EBIT | $2.01B | $3.02B | $6.51B | $7.89B | $8.99B | $6.09B | $6.68B | $7.7B | $8.24B |
| Below the line | |||||||||
| Interest expense | $224M | $1.02B | $3.44B | $4.19B | $4.22B | $2.99B | $3.3B | $3.9B | $4.13B |
| Interest income | $0 | $0 | $0 | $0 | $4.17B | $924.19M | $1.06B | $1.25B | $1.36B |
| Other income / expense | -$229M | -$1.13B | -$3.45B | -$4.15B | -$4.03B | — | — | — | — |
| Pre-tax income | $1.79B | $2B | $3.07B | $3.7B | $4.77B | $2.85B | $3.33B | $3.86B | $4.16B |
| Income tax expense | $151M | $156M | $257M | $288M | $414M | $244.08M | $273.12M | $306.89M | $337.91M |
| Earnings | |||||||||
| Net income | $308M | $380M | $600M | $755M | $984M | $573.28M | $674.14M | $756.02M | $832.99M |
| Net income · continuing ops | $1.64B | $1.84B | $2.81B | $3.41B | $4.36B | $2.67B | $2.99B | $3.4B | $3.77B |
| Net margin | +10.48% | +9.06% | +7.71% | +8.10% | +9.62% | +8.24% | +8.64% | +8.44% | +8.52% |
| EPS · basic | $0.82 | $0.94 | $1.43 | $1.75 | $2.23 | $2.49 | $2.86 | $3.29 | $3.58 |
| EPS · diluted | $0.81 | $0.94 | $1.42 | $1.73 | $2.22 | $2.50 | $2.85 | $3.25 | $3.57 |
| EPS · low estimate | — | — | — | — | — | $2.46 | $2.71 | $3.07 | $3.44 |
| EPS · high estimate | — | — | — | — | — | $2.54 | $2.95 | $3.42 | $3.75 |
| Shares · basic | 376.67M | 401.84M | 419.86M | 432.45M | 445.37M | 444.45M | 446.58M | 448.47M | 448.99M |
| Shares · diluted | 380.04M | 405.2M | 423.39M | 436.01M | 447.87M | 449.93M | 445.09M | 446.01M | 448.51M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 3 | 4 | 2 | 1 |
| Analysts (EPS) | — | — | — | — | — | 5 | 5 | 2 | 1 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro