1.Sales and profit
See section →- Johnson Controls had $23.6B of revenue in fiscal 2025, up 2.8% on the year before. Over five years, revenue changed +1.1% a year on average.
- Johnson Controls made $3.3B of net profit in fiscal 2025.
Johnson Controls
JCI NYSE Building Products Financials FY2016–FY2025
Johnson Controls, headquartered in Cork, Ireland, makes, installs and services equipment that heats, cools, secures and protects commercial buildings. Its products include commercial heating, ventilation and air-conditioning (HVAC) equipment, industrial refrigeration, building controls, security systems and fire detection and suppression systems. Customers include owners of offices, data centers, hospitals, schools and government buildings. Its brands include York, Metasys and Simplex.
Download report
3-page PDF: the company, its results and charts with peers.
KIRA’s summary AI analyst
Hi! I read Johnson Controls’s latest annual report (fiscal 2025). Here is what stands out:
3 strengths 1 to watch
2.Cash and shareholders
See section →- Free cash flow was $2.1B in fiscal 2025, 9.0% of revenue.
- Johnson Controls returned $7.0B to shareholders in fiscal 2025, 329% of free cash flow. The diluted share count fell 3.2%.
- In the last 12 months, insiders bought $1.0M and sold $26.2M of shares on the open market.
3.Financial health
See section →- Johnson Controls owes $9.5B more than it holds in cash, about 3.0 years of operating profit.
- Its return on capital was 8.2%: every 100 invested in the business earned about 8 in a year.
- Johnson Controls passes 6 of 9 financial health tests (Piotroski F-score).
4.Price and value
See section →- At $143.96 a share, the company is worth $88.4B: 26.0 times its earnings of the last four quarters.
- Johnson Controls grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 1 of 3.
Biggest risks, in its own words
- Falling short in developing or buying new products and technology that customers accept at acceptable margins.
- Problems with product quality, on-time delivery or supplier shortages.
- Demand that rises and falls with cyclical industries such as construction.
- Trade and tariff changes, and the risks of operating in many countries.
- Asbestos-related product lawsuits and environmental contamination liability.
Johnson Controls in 30 seconds
Good So-so Weak
So-so
Are sales growing?
+2.8%
Only a little. Sales grew 2.8% last year.
Good
Does it make a profit?
14.0%
Yes. It keeps 14.0% of every sale as profit.
So-so
Does profit turn into cash?
9.0%
Partly. 9.0% of sales ends up as free cash.
Weak
Is debt under control?
3.0x
Heavy. Repaying its debt would take 3.0 years of operating profit.
So-so
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
For information
How is the share priced?
26.0x
One share costs 26.0 times its yearly profit per share. Typical for its sector: 26.0x.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$88.4B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
26.0x
On $5.53 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Johnson Controls did it, and the next one. Share prices often move a lot on those days.
Next results
October 27, 2026
Tuesday · tomorrow
- Time
- Before the market opens
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- $1.58
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Jul 29, 2026 | Period ended Jun 30, 2026 | Before the market opens | 8-K ↗ |
| May 6, 2026 | Q2 '26 | Before the market opens | 8-K ↗ |
| Feb 4, 2026 | Q1 '26 | Before the market opens | 8-K ↗ |
| Nov 5, 2025 | Q4 '25 | Before the market opens | 8-K ↗ |
| Jul 29, 2025 | Q3 '25 | Before the market opens | 8-K ↗ |
| May 7, 2025 | Q2 '25 | Before the market opens | 8-K ↗ |
| Feb 5, 2025 | Q1 '25 | Before the market opens | 8-K ↗ |
| Nov 6, 2024 | Q4 '24 | Before the market opens | 8-K ↗ |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA · Johnson Controls had $23.6B of revenue in fiscal 2025, up 2.8% on the year before. Over five years, revenue changed +1.1% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY16
Revenue $20.8B
FY17
Revenue $22.8B
FY18
Revenue $23.4B
FY19
Revenue $24.0B
FY20
Revenue $22.3B
FY21
Revenue $23.7B
FY22
Revenue $20.6B
FY23
Revenue $22.3B
FY24
Revenue $23.0B
FY25
Revenue $23.6B
Revenue
Q3 '23
Revenue $7.1B
Q4 '23
Revenue $2.4B
Q1 '24
Revenue $5.2B
Q2 '24
Revenue $5.6B
Q3 '24
Revenue $5.9B
Q4 '24
Revenue $6.2B
Q1 '25
Revenue $5.4B
Q2 '25
Revenue $5.7B
Q3 '25
Revenue $6.1B
Q4 '25
Revenue $6.4B
Q1 '26
Revenue $5.8B
Q2 '26
Revenue $6.1B
Margins, % of revenue
FY16
Gross 27.1%
Operating —
Net −4.2%
FCF 3.2%
FY17
Gross 33.0%
Operating —
Net 7.1%
FCF −1.7%
FY18
Gross 32.8%
Operating —
Net 9.2%
FCF 3.7%
FY19
Gross 32.1%
Operating —
Net 23.7%
FCF 4.8%
FY20
Gross 33.2%
Operating —
Net 2.8%
FCF 9.1%
FY21
Gross 34.1%
Operating —
Net 6.9%
FCF 8.5%
FY22
Gross 34.4%
Operating —
Net 7.4%
FCF 3.6%
FY23
Gross 35.0%
Operating —
Net 8.3%
FCF 6.3%
FY24
Gross 35.2%
Operating —
Net 7.4%
FCF 4.7%
FY25
Gross 36.4%
Operating —
Net 14.0%
FCF 9.0%
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross 34.1%
Operating —
Net 14.7%
FCF 9.8%
Q4 '23
Gross 42.6%
Operating —
Net 22.5%
FCF 38.7%
Q1 '24
Gross 34.1%
Operating —
Net 7.2%
FCF −6.3%
Q2 '24
Gross 34.3%
Operating —
Net −5.0%
FCF −5.9%
Q3 '24
Gross 35.8%
Operating —
Net 16.5%
FCF 15.8%
Q4 '24
Gross 36.3%
Operating —
Net 10.1%
FCF 18.5%
Q1 '25
Gross 35.5%
Operating —
Net 7.7%
FCF 2.5%
Q2 '25
Gross 36.5%
Operating —
Net 8.4%
FCF 8.0%
Q3 '25
Gross 37.1%
Operating —
Net 11.6%
FCF 11.5%
Q4 '25
Gross 36.5%
Operating —
Net 26.3%
FCF 13.0%
Q1 '26
Gross 35.8%
Operating —
Net 9.0%
FCF 9.2%
Q2 '26
Gross 36.8%
Operating —
Net 10.0%
FCF 9.8%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA · Johnson Controls made $3.3B of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY16
Net income −$868M
FY17
Net income $1.6B
FY18
Net income $2.2B
FY19
Net income $5.7B
FY20
Net income $631M
FY21
Net income $1.6B
FY22
Net income $1.5B
FY23
Net income $1.8B
FY24
Net income $1.7B
FY25
Net income $3.3B
Net income
Q3 '23
Net income $1.0B
Q4 '23
Net income $549M
Q1 '24
Net income $374M
Q2 '24
Net income −$277M
Q3 '24
Net income $975M
Q4 '24
Net income $633M
Q1 '25
Net income $419M
Q2 '25
Net income $478M
Q3 '25
Net income $701M
Q4 '25
Net income $1.7B
Q1 '26
Net income $524M
Q2 '26
Net income $613M
Diluted EPS
FY16
Diluted EPS −$1.29
FY17
Diluted EPS $1.71
FY18
Diluted EPS $2.32
FY19
Diluted EPS $6.49
FY20
Diluted EPS $0.84
FY21
Diluted EPS $2.27
FY22
Diluted EPS $2.19
FY23
Diluted EPS $2.69
FY24
Diluted EPS $2.52
FY25
Diluted EPS $5.03
Diluted EPS
Q3 '23
Diluted EPS $1.53
Q4 '23
Diluted EPS $0.80
Q1 '24
Diluted EPS $0.55
Q2 '24
Diluted EPS −$0.41
Q3 '24
Diluted EPS $1.45
Q4 '24
Diluted EPS $0.94
Q1 '25
Diluted EPS $0.63
Q2 '25
Diluted EPS $0.72
Q3 '25
Diluted EPS $1.07
Q4 '25
Diluted EPS $2.61
Q1 '26
Diluted EPS $0.85
Q2 '26
Diluted EPS $1.00
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA · Free cash flow was $2.1B in fiscal 2025, 9.0% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY16
Free cash flow $659M
FY17
Free cash flow −$389M
FY18
Free cash flow $875M
FY19
Free cash flow $1.2B
FY20
Free cash flow $2.0B
FY21
Free cash flow $2.0B
FY22
Free cash flow $750M
FY23
Free cash flow $1.4B
FY24
Free cash flow $1.1B
FY25
Free cash flow $2.1B
Free cash flow
Q3 '23
Free cash flow $702M
Q4 '23
Free cash flow $945M
Q1 '24
Free cash flow −$328M
Q2 '24
Free cash flow −$331M
Q3 '24
Free cash flow $932M
Q4 '24
Free cash flow $1.2B
Q1 '25
Free cash flow $133M
Q2 '25
Free cash flow $456M
Q3 '25
Free cash flow $693M
Q4 '25
Free cash flow $838M
Q1 '26
Free cash flow $531M
Q2 '26
Free cash flow $604M
Cash from operations vs capital spending
FY16
Cash from operations $1.9B
Capital spending $1.2B
FY17
Cash from operations $371M
Capital spending $760M
FY18
Cash from operations $1.5B
Capital spending $645M
FY19
Cash from operations $1.7B
Capital spending $586M
FY20
Cash from operations $2.5B
Capital spending $443M
FY21
Cash from operations $2.6B
Capital spending $552M
FY22
Cash from operations $1.2B
Capital spending $487M
FY23
Cash from operations $1.9B
Capital spending $446M
FY24
Cash from operations $1.6B
Capital spending $494M
FY25
Cash from operations $2.6B
Capital spending $434M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations $813M
Capital spending $111M
Q4 '23
Cash from operations $1.0B
Capital spending $80.0M
Q1 '24
Cash from operations −$246M
Capital spending $82.0M
Q2 '24
Cash from operations −$203M
Capital spending $128M
Q3 '24
Cash from operations $1.0B
Capital spending $89.0M
Q4 '24
Cash from operations $1.4B
Capital spending $195M
Q1 '25
Cash from operations $249M
Capital spending $116M
Q2 '25
Cash from operations $550M
Capital spending $94.0M
Q3 '25
Cash from operations $787M
Capital spending $94.0M
Q4 '25
Cash from operations $968M
Capital spending $130M
Q1 '26
Cash from operations $611M
Capital spending $80.0M
Q2 '26
Cash from operations $672M
Capital spending $68.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA · Johnson Controls returned $7.0B to shareholders in fiscal 2025, 329% of free cash flow. The diluted share count fell 3.2%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY16
Dividends $915M
Buybacks $501M
FY17
Dividends $702M
Buybacks $651M
FY18
Dividends $954M
Buybacks $300M
FY19
Dividends $920M
Buybacks $6.0B
FY20
Dividends $790M
Buybacks $2.2B
FY21
Dividends $762M
Buybacks $1.3B
FY22
Dividends $916M
Buybacks $1.4B
FY23
Dividends $980M
Buybacks $625M
FY24
Dividends $1.0B
Buybacks $1.2B
FY25
Dividends $976M
Buybacks $6.0B
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends $248M
Buybacks $366M
Q4 '23
Dividends $251M
Buybacks $12.0M
Q1 '24
Dividends $252M
Buybacks $0.0M
Q2 '24
Dividends $252M
Buybacks $474M
Q3 '24
Dividends $249M
Buybacks $402M
Q4 '24
Dividends $247M
Buybacks $370M
Q1 '25
Dividends $245M
Buybacks $330M
Q2 '25
Dividends $245M
Buybacks $330M
Q3 '25
Dividends $243M
Buybacks $310M
Q4 '25
Dividends $243M
Buybacks $5.0B
Q1 '26
Dividends $245M
Buybacks $0.0M
Q2 '26
Dividends $244M
Buybacks $215M
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.67B
FY17
Diluted shares 0.94B
FY18
Diluted shares 0.93B
FY19
Diluted shares 0.87B
FY20
Diluted shares 0.75B
FY21
Diluted shares 0.72B
FY22
Diluted shares 0.70B
FY23
Diluted shares 0.69B
FY24
Diluted shares 0.68B
FY25
Diluted shares 0.65B
Insider trades
KIRA · In the last 12 months, insiders bought $1.0M and sold $26.2M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.0M
1 insider
Sold, 12 months
$26.2M
5 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 19, 2026 | Pierre E CohadeDirector | Sold | 3,300 | $147.79 | $0.5M | Form 4 |
| Aug 4, 2026 | Lei Zhang SchlitzVP & Pres, GP & Solutions | Sold | 23,417 | $153.07 | $3.6M | Form 4 |
| Jun 9, 2026 | Todd M GrabowskiVP and President, Americas | Sold | 1,800 | $146.20 | $0.3M | Form 4 |
| May 14, 2026 | Todd M GrabowskiVP and President, Americas | Sold | 4,274 | $145.50 | $0.6M | Form 4 |
| May 8, 2026 | Lei Zhang SchlitzVP & Pres, GP & Solutions | Sold | 88,809 | $140.99 | $12.5M | Form 4 |
| Feb 23, 2026 | Daniel C McConeghyVP Chief Accounting & Tax Ofcr | Sold | 3,600 | $142.56 | $0.5M | Form 4 |
| Feb 6, 2026 | Todd M GrabowskiVP and President, Americas | Sold | 6,050 | $134.90 | $0.8M | Form 4 |
| Feb 5, 2026 | Mark VergnanoDirector | Bought | 7,665 | $131.94 | $1.0M | Form 4 |
| Dec 10, 2025 | John DonofrioExec VP & General Counsel | Sold | 21,595 | $116.00 | $2.5M | Form 4 |
| Nov 21, 2025 | Lei Zhang SchlitzVP & Pres, Global Products | Sold | 32,031 | $113.20 | $3.6M | Form 4 |
| Nov 6, 2025 | Lei Zhang SchlitzVP & Pres, Global Products | Sold | 10,500 | $122.03 | $1.3M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA · Johnson Controls owes $9.5B more than it holds in cash, about 3.0 years of operating profit.
Cash, debt and the ratios that show how comfortably Johnson Controls can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY16
Cash $579M
Debt $16.3B
FY17
Cash $301M
Debt $13.6B
FY18
Cash $185M
Debt $11.0B
FY19
Cash $2.8B
Debt $7.3B
FY20
Cash $2.0B
Debt $7.9B
FY21
Cash $1.3B
Debt $7.8B
FY22
Cash $2.0B
Debt $9.0B
FY23
Cash $828M
Debt $8.8B
FY24
Cash $606M
Debt $9.5B
FY25
Cash $379M
Debt $9.9B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.3B | $2.0B | $828M | $606M | $379M |
| Debt incl. finance leases | $7.8B | $9.0B | $8.8B | $9.5B | $9.9B |
| Net debt / EBITDA | 1.8x | 3.4x | 3.7x | 3.3x | 3.0x |
| Debt / equity | 0.4x | 0.6x | 0.5x | 0.6x | 0.8x |
| Interest coverage | 12.9x | 5.9x | 4.9x | 5.2x | 7.1x |
| Current ratio | 1.1x | 1.0x | 1.0x | 0.9x | 0.9x |
| Quick ratio | 0.9x | 0.8x | 0.8x | 0.8x | 0.8x |
| Total assets | $41.9B | $42.2B | $42.2B | $42.7B | $37.9B |
| Total liabilities | $23.1B | $24.8B | $24.5B | $25.3B | $25.0B |
| Shareholders' equity | $17.6B | $16.3B | $16.5B | $16.1B | $12.9B |
| Net debt (− = net cash) | $6.4B | $7.0B | $8.0B | $8.9B | $9.5B |
Returns on capital
KIRA · Its return on capital was 8.2%: every 100 invested in the business earned about 8 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY16
Return on capital 4.7%
Return on equity −6.2%
Return on assets −2.3%
FY17
Return on capital 3.1%
Return on equity 7.2%
Return on assets 2.8%
FY18
Return on capital 5.0%
Return on equity 10.4%
Return on assets 4.3%
FY19
Return on capital 4.8%
Return on equity 27.7%
Return on assets 12.5%
FY20
Return on capital 4.1%
Return on equity 3.4%
Return on assets 1.5%
FY21
Return on capital 7.6%
Return on equity 9.4%
Return on assets 4.0%
FY22
Return on capital 5.4%
Return on equity 9.1%
Return on assets 3.7%
FY23
Return on capital 5.6%
Return on equity 11.3%
Return on assets 4.4%
FY24
Return on capital 6.7%
Return on equity 10.5%
Return on assets 4.0%
FY25
Return on capital 8.2%
Return on equity 22.7%
Return on assets 8.2%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA · Johnson Controls passes 6 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✕ | ✕ |
| Debt fell relative to assets | ✓ | ✕ | ✕ |
| Current ratio rose | ✕ | ✕ | ✕ |
| Share count didn't rise | ✓ | ✓ | ✓ |
| Gross margin rose | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | ✓ | ✓ | ✓ |
| F-score | 8 / 9 | 5 / 9 | 6 / 9 |
| Accruals ratio | −0.0% | 0.3% | 1.8% |
| Altman Z'' | 1.03 | 0.96 | 0.82 |
Price and value
What does the share cost, and how does it compare?
Value Johnson Controls yourself
KIRA · At $143.96 a share, the company is worth $88.4B: 26.0 times its earnings of the last four quarters.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Discounted cash flow
Value per share
—
Adds net cash of −$9.5B and divides by 654.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 26.0x · peers 33.7x · sector 26.0x.
Similar companies
KIRA · Johnson Controls grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 1 of 3.
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Johnson Controls JCI | $88.4B | 2.8% | — | 9.0% | 8.2% | 26.0x | 6 | |
| Carrier Global CARR | $47.4B | −3.3% | 10.0% | 9.8% | 8.0% | 36.8x | 5 | Compare → |
| Trane Technologies TT | $99.0B | 7.5% | 18.6% | 13.2% | 29.0% | 33.7x | 8 | Compare → |
| Owens Corning OC | $9.2B | 2.6% | 3.6% | 9.5% | 1.9% | — | 4 | Compare → |
| Masco MAS | $15.5B | −3.4% | 16.5% | 11.5% | 40.4% | 18.9x | 7 | Compare → |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $20.8B | $22.8B | $23.4B | $24.0B | $22.3B | $23.7B | $20.6B | $22.3B | $23.0B | $23.6B |
| Gross profit | $5.7B | $7.5B | $7.7B | $7.7B | $7.4B | $8.1B | $7.1B | $7.8B | $8.1B | $8.6B |
| Research and development | $158M | $307M | $310M | $319M | $274M | $275M | $236M | $251M | $267M | $273M |
| Interest expense | $293M | $446M | $409M | $335M | $240M | $219M | $225M | $288M | $361M | $321M |
| Pretax income | $1.1B | $1.2B | $1.5B | $1.1B | $903M | $2.6B | $1.1B | $1.1B | $1.5B | $2.0B |
| Income tax | $197M | $322M | $197M | −$233M | $108M | $868M | −$182M | −$468M | $111M | $245M |
| Net income | −$868M | $1.6B | $2.2B | $5.7B | $631M | $1.6B | $1.5B | $1.8B | $1.7B | $3.3B |
| Diluted EPS | −$1.29 | $1.71 | $2.32 | $6.49 | $0.84 | $2.27 | $2.19 | $2.69 | $2.52 | $5.03 |
| Diluted shares | 0.67B | 0.94B | 0.93B | 0.87B | 0.75B | 0.72B | 0.70B | 0.69B | 0.68B | 0.65B |
| Cash flow | ||||||||||
| Cash from operations | $1.9B | $371M | $1.5B | $1.7B | $2.5B | $2.6B | $1.2B | $1.9B | $1.6B | $2.6B |
| Capital expenditure | $1.2B | $760M | $645M | $586M | $443M | $552M | $487M | $446M | $494M | $434M |
| Free cash flow | $659M | −$389M | $875M | $1.2B | $2.0B | $2.0B | $750M | $1.4B | $1.1B | $2.1B |
| Depreciation and amortization | $953M | $919M | $824M | $825M | $822M | $845M | $717M | $745M | $816M | $865M |
| Stock-based compensation | $142M | $134M | $106M | $95.0M | $74.0M | $76.0M | $98.0M | $107M | $107M | $140M |
| Acquisitions | $353M | $6.0M | $21.0M | $25.0M | $77.0M | $725M | $269M | $726M | $3.0M | $10.0M |
| Share buybacks | $501M | $651M | $300M | $6.0B | $2.2B | $1.3B | $1.4B | $625M | $1.2B | $6.0B |
| Dividends paid | $915M | $702M | $954M | $920M | $790M | $762M | $916M | $980M | $1.0B | $976M |
| Dividends and buybacks | $1.4B | $1.4B | $1.3B | $6.9B | $3.0B | $2.1B | $2.4B | $1.6B | $2.2B | $7.0B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $579M | $301M | $185M | $2.8B | $2.0B | $1.3B | $2.0B | $828M | $606M | $379M |
| Total debt | $16.3B | $13.6B | $11.0B | $7.3B | $7.9B | $7.8B | $9.0B | $8.8B | $9.5B | $9.9B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $17.1B | $12.3B | $11.8B | $12.4B | $10.1B | $10.0B | $11.7B | $10.7B | $11.2B | $10.2B |
| Current liabilities | $16.3B | $11.9B | $11.3B | $9.1B | $8.2B | $9.1B | $11.2B | $11.1B | $12.0B | $10.9B |
| Inventory | $2.9B | $3.2B | $1.8B | $1.8B | $1.8B | $2.1B | $2.7B | $1.9B | $1.8B | $1.8B |
| Property and equipment, net | $5.6B | $3.3B | $3.3B | $3.3B | $3.1B | $3.2B | $2.3B | $2.4B | $2.4B | $2.2B |
| Total assets | $63.2B | $51.9B | $48.8B | $42.3B | $40.8B | $41.9B | $42.2B | $42.2B | $42.7B | $37.9B |
| Total liabilities | $38.1B | $30.5B | $26.3B | $21.5B | $22.3B | $23.1B | $24.8B | $24.5B | $25.3B | $25.0B |
| Shareholders' equity | $24.1B | $20.4B | $21.2B | $19.8B | $17.4B | $17.6B | $16.3B | $16.5B | $16.1B | $12.9B |
| Margins | ||||||||||
| Gross margin | 27.1% | 33.0% | 32.8% | 32.1% | 33.2% | 34.1% | 34.4% | 35.0% | 35.2% | 36.4% |
| EBITDA margin | 11.1% | 11.0% | 11.9% | 9.3% | 8.8% | 15.5% | 10.0% | 9.6% | 11.8% | 13.4% |
| Net margin | −4.2% | 7.1% | 9.2% | 23.7% | 2.8% | 6.9% | 7.4% | 8.3% | 7.4% | 14.0% |
| FCF margin | 3.2% | −1.7% | 3.7% | 4.8% | 9.1% | 8.5% | 3.6% | 6.3% | 4.7% | 9.0% |
| Returns | ||||||||||
| Return on capital | 4.7% | 3.1% | 5.0% | 4.8% | 4.1% | 7.6% | 5.4% | 5.6% | 6.7% | 8.2% |
| Return on capital employed | 4.9% | 3.7% | 5.0% | 3.9% | 3.5% | 8.7% | 4.2% | 4.5% | 6.1% | 7.9% |
| Return on equity | −6.2% | 7.2% | 10.4% | 27.7% | 3.4% | 9.4% | 9.1% | 11.3% | 10.5% | 22.7% |
| Return on assets | −2.3% | 2.8% | 4.3% | 12.5% | 1.5% | 4.0% | 3.7% | 4.4% | 4.0% | 8.2% |
| Growth | ||||||||||
| Revenue growth | 110.4% | 9.6% | 2.5% | 2.4% | −6.9% | 6.1% | −12.8% | 8.2% | 2.8% | 2.8% |
| Net income growth | −257.5% | — | 34.2% | 162.4% | −88.9% | 159.4% | −6.4% | 20.7% | −7.8% | 93.0% |
| EPS growth | −200.0% | — | 35.7% | 179.7% | −87.1% | 170.2% | −3.5% | 22.8% | −6.3% | 99.6% |
| FCF growth | 122.6% | −159.0% | — | 32.2% | 76.0% | −1.8% | −62.5% | 88.0% | −23.8% | 97.4% |
| Share count change | 57.5% | 40.4% | −1.4% | −6.2% | −13.8% | −4.3% | −3.0% | −1.7% | −1.7% | −3.2% |
| Financial health | ||||||||||
| Net debt / EBITDA | 6.8x | 5.3x | 3.9x | 2.0x | 3.0x | 1.8x | 3.4x | 3.7x | 3.3x | 3.0x |
| Debt / equity | 0.7x | 0.7x | 0.5x | 0.4x | 0.5x | 0.4x | 0.6x | 0.5x | 0.6x | 0.8x |
| Interest coverage | 4.6x | 3.6x | 4.8x | 4.2x | 4.8x | 12.9x | 5.9x | 4.9x | 5.2x | 7.1x |
| Current ratio | 1.1x | 1.0x | 1.1x | 1.4x | 1.2x | 1.1x | 1.0x | 1.0x | 0.9x | 0.9x |
| Quick ratio | 0.9x | 0.8x | 0.9x | 1.2x | 1.0x | 0.9x | 0.8x | 0.8x | 0.8x | 0.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 6.0% | 3.3% | 2.8% | 2.4% | 2.0% | 2.3% | 2.4% | 2.0% | 2.2% | 1.8% |
| Stock comp / revenue | 0.7% | 0.6% | 0.5% | 0.4% | 0.3% | 0.3% | 0.5% | 0.5% | 0.5% | 0.6% |
| Payouts / FCF | 214.9% | — | 143.3% | 596.6% | 147.1% | 103.5% | 314.3% | 113.8% | 209.1% | 328.6% |
| Quality scores | ||||||||||
| Piotroski F-score | 3.0 | 5.0 | 7.0 | 7.0 | 6.0 | 8.0 | 4.0 | 8.0 | 5.0 | 6.0 |
| Altman Z'' | 1.4 | 1.3 | 1.7 | 2.1 | 1.6 | 1.6 | 1.1 | 1.0 | 1.0 | 0.8 |
| Accruals ratio | −7.4% | 2.2% | 1.3% | 8.6% | −4.5% | −2.2% | 0.7% | −0.0% | 0.3% | 1.8% |
Source: SEC EDGAR XBRL filings (CIK 0000833444). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.