John Wiley & Sons
WLY NYSE Publishing Financials FY2017–FY2026
John Wiley & Sons' revenue fell 0.1% to $1.7 billion in fiscal 2026. Its operating margin was 16.5%, up from 13.2% a year earlier. Free cash flow was $209 million, up 48.4%. It paid out $174 million in dividends and buybacks, 83% of free cash flow. The diluted share count fell 2.9%.
Revenue
Total sales reported in the income statement.
$1.7B
0.1%
vs prior year
Operating margin
Operating income as a share of revenue.
16.5%
3.3 pts
Net income
Profit after all expenses, interest and tax.
$222M
163.2%
Free cash flow
Cash from operations minus capital spending.
$209M
48.3%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
19.0%
10.0 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$2.7B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
14.5x
On $3.71 EPS (TTM)
What John Wiley & Sons does
No business description yet.
- Legal name
- JOHN WILEY & SONS, INC.
- Fiscal year ends
- April 30, 2026
- Latest annual report
- —
- Accession · CIK
- 0001628280-26-045111
0000107140
Revenue and margins
John Wiley & Sons had $1.7B of revenue in fiscal 2026, down 0.1% on the year before.
FY17
Revenue $1.7B
FY18
Revenue $1.8B
FY19
Revenue $1.8B
FY20
Revenue $1.8B
FY21
Revenue $1.9B
FY22
Revenue $2.1B
FY23
Revenue $2.0B
FY24
Revenue $1.9B
FY25
Revenue $1.7B
FY26
Revenue $1.7B
Q2 '24
Revenue $493M
Q3 '24
Revenue $461M
Q4 '24
Revenue $469M
Q1 '25
Revenue $404M
Q2 '25
Revenue $427M
Q3 '25
Revenue $405M
Q4 '25
Revenue $443M
Q1 '26
Revenue $397M
Q2 '26
Revenue $422M
Q3 '26
Revenue $410M
Q4 '26
Revenue $448M
Q1 '27
Revenue $386M
FY17
Gross 73.2%
Operating 12.3%
Net 6.6%
FCF 12.2%
FY18
Gross 70.4%
Operating 12.9%
Net 10.7%
FCF 14.9%
FY19
Gross 69.2%
Operating 12.4%
Net 9.4%
FCF 9.7%
FY20
Gross 67.7%
Operating −3.0%
Net −4.1%
FCF 10.9%
FY21
Gross 67.8%
Operating 9.6%
Net 7.6%
FCF 14.6%
FY22
Gross 66.4%
Operating 10.5%
Net 7.1%
FCF 12.0%
FY23
Gross 65.7%
Operating 2.8%
Net 0.9%
FCF 9.7%
FY24
Gross 69.1%
Operating 2.8%
Net −10.7%
FCF 7.0%
FY25
Gross 74.3%
Operating 13.2%
Net 5.0%
FCF 8.4%
FY26
Gross 74.3%
Operating 16.5%
Net 13.2%
FCF 12.5%
Gross
Operating
Net
FCF
Q2 '24
Gross 68.4%
Operating 9.4%
Net −4.0%
FCF −4.3%
Q3 '24
Gross 68.8%
Operating −10.1%
Net −24.7%
FCF 19.7%
Q4 '24
Gross 73.7%
Operating 14.7%
Net 5.4%
FCF 35.1%
Q1 '25
Gross 73.0%
Operating 7.2%
Net −0.4%
FCF −25.6%
Q2 '25
Gross 74.9%
Operating 15.0%
Net 9.5%
FCF −4.6%
Q3 '25
Gross 74.2%
Operating 12.8%
Net −5.7%
FCF 32.9%
Q4 '25
Gross 74.9%
Operating 17.3%
Net 15.4%
FCF 29.7%
Q1 '26
Gross 72.5%
Operating 7.8%
Net 3.0%
FCF −24.5%
Q2 '26
Gross 75.3%
Operating 17.3%
Net 10.6%
FCF −1.1%
Q3 '26
Gross 73.7%
Operating 15.3%
Net 7.2%
FCF 40.7%
Q4 '26
Gross 75.4%
Operating 24.6%
Net 30.2%
FCF 32.2%
Q1 '27
Gross 73.9%
Operating 0.8%
Net −3.0%
FCF −17.2%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2017 to 2026, diluted EPS grew 8.8% a year. Loss periods are shown in red.
FY17
Net income $114M
FY18
Net income $192M
FY19
Net income $168M
FY20
Net income −$74.3M
FY21
Net income $148M
FY22
Net income $148M
FY23
Net income $17.2M
FY24
Net income −$200M
FY25
Net income $84.2M
FY26
Net income $222M
Q2 '24
Net income −$19.4M
Q3 '24
Net income −$114M
Q4 '24
Net income $25.3M
Q1 '25
Net income −$1.4M
Q2 '25
Net income $40.5M
Q3 '25
Net income −$23.0M
Q4 '25
Net income $68.1M
Q1 '26
Net income $11.7M
Q2 '26
Net income $44.9M
Q3 '26
Net income $29.7M
Q4 '26
Net income $135M
Q1 '27
Net income −$11.7M
FY17
Diluted EPS $1.95
FY18
Diluted EPS $3.32
FY19
Diluted EPS $2.91
FY20
Diluted EPS −$1.32
FY21
Diluted EPS $2.63
FY22
Diluted EPS $2.62
FY23
Diluted EPS $0.31
FY24
Diluted EPS −$3.65
FY25
Diluted EPS $1.53
FY26
Diluted EPS $4.16
Q2 '24
Diluted EPS −$0.35
Q3 '24
Diluted EPS −$2.08
Q4 '24
Diluted EPS $0.45
Q1 '25
Diluted EPS −$0.03
Q2 '25
Diluted EPS $0.74
Q3 '25
Diluted EPS −$0.43
Q4 '25
Diluted EPS $1.24
Q1 '26
Diluted EPS $0.22
Q2 '26
Diluted EPS $0.84
Q3 '26
Diluted EPS $0.56
Q4 '26
Diluted EPS $2.54
Q1 '27
Diluted EPS −$0.23
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY17
Return on capital 9.7%
Return on equity 11.1%
Return on assets 4.1%
FY18
Return on capital 15.5%
Return on equity 17.5%
Return on assets 7.1%
FY19
Return on capital 12.0%
Return on equity 14.2%
Return on assets 5.8%
FY20
Return on capital −2.8%
Return on equity −7.0%
Return on assets −2.4%
FY21
Return on capital 9.4%
Return on equity 14.6%
Return on assets 4.5%
FY22
Return on capital 8.5%
Return on equity 13.3%
Return on assets 4.4%
FY23
Return on capital 1.7%
Return on equity 1.6%
Return on assets 0.5%
FY24
Return on capital 2.7%
Return on equity −22.5%
Return on assets −6.9%
FY25
Return on capital 9.0%
Return on equity 11.3%
Return on assets 3.1%
FY26
Return on capital 19.0%
Return on equity 27.7%
Return on assets 8.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $209M in fiscal 2026, 12.5% of revenue. Cash from operations minus capital spending.
FY17
Free cash flow $210M
FY18
Free cash flow $268M
FY19
Free cash flow $174M
FY20
Free cash flow $200M
FY21
Free cash flow $283M
FY22
Free cash flow $250M
FY23
Free cash flow $196M
FY24
Free cash flow $132M
FY25
Free cash flow $141M
FY26
Free cash flow $209M
Q2 '24
Free cash flow −$21.4M
Q3 '24
Free cash flow $90.9M
Q4 '24
Free cash flow $164M
Q1 '25
Free cash flow −$103M
Q2 '25
Free cash flow −$19.8M
Q3 '25
Free cash flow $133M
Q4 '25
Free cash flow $131M
Q1 '26
Free cash flow −$97.0M
Q2 '26
Free cash flow −$4.6M
Q3 '26
Free cash flow $167M
Q4 '26
Free cash flow $144M
Q1 '27
Free cash flow −$66.5M
FY17
Cash from operations $315M
Capital spending $105M
FY18
Cash from operations $382M
Capital spending $114M
FY19
Cash from operations $251M
Capital spending $77.2M
FY20
Cash from operations $288M
Capital spending $88.6M
FY21
Cash from operations $360M
Capital spending $77.4M
FY22
Cash from operations $339M
Capital spending $88.8M
FY23
Cash from operations $277M
Capital spending $81.2M
FY24
Cash from operations $208M
Capital spending $76.1M
FY25
Cash from operations $203M
Capital spending $61.5M
FY26
Cash from operations $261M
Capital spending $51.2M
Cash from operations
Capital spending
Q2 '24
Cash from operations −$1.2M
Capital spending $20.2M
Q3 '24
Cash from operations $108M
Capital spending $17.0M
Q4 '24
Cash from operations $183M
Capital spending $18.8M
Q1 '25
Cash from operations −$88.7M
Capital spending $14.5M
Q2 '25
Cash from operations −$5.3M
Capital spending $14.5M
Q3 '25
Cash from operations $146M
Capital spending $13.3M
Q4 '25
Cash from operations $150M
Capital spending $19.1M
Q1 '26
Cash from operations −$85.0M
Capital spending $12.0M
Q2 '26
Cash from operations $8.5M
Capital spending $13.1M
Q3 '26
Cash from operations $180M
Capital spending $12.9M
Q4 '26
Cash from operations $157M
Capital spending $13.2M
Q1 '27
Cash from operations −$55.3M
Capital spending $11.2M
Cash from operations
Capital spending
Dividends, buybacks and share count
John Wiley & Sons returned $174M to shareholders in fiscal 2026, 83% of free cash flow. The diluted share count fell 2.9%.
FY17
Dividends $71.5M
Buybacks $50.3M
FY18
Dividends $73.5M
Buybacks $39.7M
FY19
Dividends $75.8M
Buybacks $60.0M
FY20
Dividends $76.7M
Buybacks $46.6M
FY21
Dividends $76.9M
Buybacks $15.8M
FY22
Dividends $77.2M
Buybacks $30.0M
FY23
Dividends $77.3M
Buybacks $35.0M
FY24
Dividends $77.0M
Buybacks $45.0M
FY25
Dividends $76.1M
Buybacks $60.4M
FY26
Dividends $74.4M
Buybacks $100M
Dividends
Buybacks
Q2 '24
Dividends $19.3M
Buybacks $12.5M
Q3 '24
Dividends $19.2M
Buybacks $6.5M
Q4 '24
Dividends $19.1M
Buybacks $16.1M
Q1 '25
Dividends $19.2M
Buybacks $12.5M
Q2 '25
Dividends $19.1M
Buybacks $12.9M
Q3 '25
Dividends $19.0M
Buybacks $10.0M
Q4 '25
Dividends $18.9M
Buybacks $25.0M
Q1 '26
Dividends $19.0M
Buybacks $13.5M
Q2 '26
Dividends $18.8M
Buybacks $21.6M
Q3 '26
Dividends $18.5M
Buybacks $34.9M
Q4 '26
Dividends $18.1M
Buybacks $30.1M
Q1 '27
Dividends $18.2M
Buybacks $15.2M
Dividends
Buybacks
FY17
Diluted shares 0.06B
FY18
Diluted shares 0.06B
FY19
Diluted shares 0.06B
FY20
Diluted shares 0.06B
FY21
Diluted shares 0.06B
FY22
Diluted shares 0.06B
FY23
Diluted shares 0.06B
FY24
Diluted shares 0.05B
FY25
Diluted shares 0.05B
FY26
Diluted shares 0.05B
Value John Wiley & Sons yourself
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.
Discounted cash flow
Value per share
—
Adds net cash of −$608M and divides by 53.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 14.5x · peers 29.4x · sector 17.3x.
Balance sheet
Cash, debt and the ratios that show how comfortably John Wiley & Sons can carry it.
FY17
Cash $58.5M
Debt $365M
FY18
Cash $170M
Debt $360M
FY19
Cash $92.9M
Debt $479M
FY20
Cash $203M
Debt $775M
FY21
Cash $93.8M
Debt $822M
FY22
Cash $100M
Debt $787M
FY23
Cash $107M
Debt $748M
FY24
Cash $83.2M
Debt $775M
FY25
Cash $85.9M
Debt $799M
FY26
Cash $75.6M
Debt $683M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $100M | $107M | $83.2M | $85.9M | $75.6M |
| Debt incl. finance leases | $787M | $748M | $775M | $799M | $683M |
| Net debt / EBITDA | 1.6x | 2.4x | 3.0x | 1.9x | 1.5x |
| Debt / equity | 0.7x | 0.7x | 1.1x | 1.1x | 0.8x |
| Interest coverage | 11.1x | 1.5x | 1.1x | 4.2x | 6.3x |
| Current ratio | 0.6x | 0.6x | 0.5x | 0.5x | 0.5x |
| Quick ratio | 0.5x | 0.6x | 0.5x | 0.5x | 0.5x |
| Total assets | $3.4B | $3.1B | $2.7B | $2.7B | $2.6B |
| Total liabilities | $2.2B | $2.1B | $2.0B | $1.9B | $1.7B |
| Shareholders' equity | $1.1B | $1.0B | $740M | $752M | $848M |
| Net debt (− = net cash) | $687M | $642M | $691M | $714M | $608M |
Insider trades
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.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 | FY26 |
|---|---|---|---|
| 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 | 5 / 9 | 8 / 9 | 8 / 9 |
| Accruals ratio | −14.0% | −4.4% | −1.5% |
| Altman Z'' | 1.40 | 1.96 | 2.51 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| John Wiley & Sons WLY | $2.7B | −0.1% | 16.5% | 12.5% | 19.0% | 14.5x | 8 | |
| Scholastic SCHL | $728M | −2.7% | 1.0% | 0.2% | 1.1% | 27.1x | 7 | Compare → |
| New York Times NYT | $11.3B | 9.2% | 15.3% | 19.5% | 23.8% | 29.0x | 7 | Compare → |
| News NWSA | $17.2B | 6.8% | — | 9.0% | 8.9% | 29.8x | 5 | Compare → |
| Tripadvisor TRIP | $1.1B | 3.1% | 4.2% | 8.6% | 8.9% | 156.8x | 6 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.7B | $1.8B | $1.8B | $1.8B | $1.9B | $2.1B | $2.0B | $1.9B | $1.7B | $1.7B |
| Gross profit | $1.3B | $1.3B | $1.2B | $1.2B | $1.3B | $1.4B | $1.3B | $1.3B | $1.2B | $1.2B |
| Operating income | $212M | $232M | $224M | −$54.3M | $186M | $219M | $55.9M | $52.3M | $221M | $277M |
| Interest expense | $16.9M | $13.3M | $16.1M | $25.0M | $18.4M | $19.8M | $37.7M | $49.0M | $52.5M | $43.8M |
| Pretax income | $191M | $214M | $213M | −$63.1M | $176M | $210M | $33.1M | −$187M | $143M | $215M |
| Income tax | $77.5M | $21.7M | $44.7M | $11.2M | $27.7M | $61.4M | $15.9M | $13.3M | $58.7M | −$6.5M |
| Net income | $114M | $192M | $168M | −$74.3M | $148M | $148M | $17.2M | −$200M | $84.2M | $222M |
| Diluted EPS | $1.95 | $3.32 | $2.91 | −$1.32 | $2.63 | $2.62 | $0.31 | −$3.65 | $1.53 | $4.16 |
| Diluted shares | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.05B | 0.05B | 0.05B |
| Cash flow | ||||||||||
| Cash from operations | $315M | $382M | $251M | $288M | $360M | $339M | $277M | $208M | $203M | $261M |
| Capital expenditure | $105M | $114M | $77.2M | $88.6M | $77.4M | $88.8M | $81.2M | $76.1M | $61.5M | $51.2M |
| Free cash flow | $210M | $268M | $174M | $200M | $283M | $250M | $196M | $132M | $141M | $209M |
| Depreciation and amortization | $157M | $154M | $161M | $175M | $200M | $215M | $213M | $177M | $147M | $144M |
| Stock-based compensation | $17.6M | $11.2M | $18.3M | $20.0M | $22.0M | $25.7M | $26.5M | $25.0M | $22.2M | $20.6M |
| Acquisitions | $126M | $0.0M | $190M | $230M | $300M | $75.7M | $7.3M | $3.1M | $3.6M | $0.2M |
| Share buybacks | $50.3M | $39.7M | $60.0M | $46.6M | $15.8M | $30.0M | $35.0M | $45.0M | $60.4M | $100M |
| Dividends paid | $71.5M | $73.5M | $75.8M | $76.7M | $76.9M | $77.2M | $77.3M | $77.0M | $76.1M | $74.4M |
| Dividends and buybacks | $122M | $113M | $136M | $123M | $92.7M | $107M | $112M | $122M | $137M | $174M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $58.5M | $170M | $92.9M | $203M | $93.8M | $100M | $107M | $83.2M | $85.9M | $75.6M |
| Total debt | $365M | $360M | $479M | $775M | $822M | $787M | $748M | $775M | $799M | $683M |
| 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 | $360M | $480M | $503M | $615M | $526M | $551M | $541M | $454M | $440M | $420M |
| Current liabilities | $788M | $874M | $882M | $927M | $989M | $969M | $896M | $873M | $821M | $779M |
| Inventory | $47.9M | $39.5M | $35.6M | $43.6M | $42.5M | $36.6M | $30.7M | $26.2M | $22.9M | $19.3M |
| Property and equipment, net | $243M | $290M | $289M | $298M | $282M | $272M | $247M | $192M | $162M | $136M |
| Total assets | $2.6B | $2.8B | $2.9B | $3.2B | $3.4B | $3.4B | $3.1B | $2.7B | $2.7B | $2.6B |
| Total liabilities | $1.6B | $1.6B | $1.8B | $2.2B | $2.4B | $2.2B | $2.1B | $2.0B | $1.9B | $1.7B |
| Shareholders' equity | $1.0B | $1.2B | $1.2B | $934M | $1.1B | $1.1B | $1.0B | $740M | $752M | $848M |
| Margins | ||||||||||
| Gross margin | 73.2% | 70.4% | 69.2% | 67.7% | 67.8% | 66.4% | 65.7% | 69.1% | 74.3% | 74.3% |
| Operating margin | 12.3% | 12.9% | 12.4% | −3.0% | 9.6% | 10.5% | 2.8% | 2.8% | 13.2% | 16.5% |
| EBITDA margin | 21.4% | 21.5% | 21.4% | 6.6% | 19.9% | 20.9% | 13.3% | 12.2% | 22.0% | 25.1% |
| Net margin | 6.6% | 10.7% | 9.4% | −4.1% | 7.6% | 7.1% | 0.9% | −10.7% | 5.0% | 13.2% |
| FCF margin | 12.2% | 14.9% | 9.7% | 10.9% | 14.6% | 12.0% | 9.7% | 7.0% | 8.4% | 12.5% |
| Returns | ||||||||||
| Return on capital | 9.7% | 15.5% | 12.0% | −2.8% | 9.4% | 8.5% | 1.7% | 2.7% | 9.0% | 19.0% |
| Return on capital employed | 10.7% | 12.2% | 11.1% | −2.5% | 7.9% | 9.0% | 2.4% | 2.6% | 11.9% | 15.0% |
| Return on equity | 11.1% | 17.5% | 14.2% | −7.0% | 14.6% | 13.3% | 1.6% | −22.5% | 11.3% | 27.7% |
| Return on assets | 4.1% | 7.1% | 5.8% | −2.4% | 4.5% | 4.4% | 0.5% | −6.9% | 3.1% | 8.4% |
| Growth | ||||||||||
| Revenue growth | −0.5% | 4.5% | 0.2% | 1.8% | 6.0% | 7.3% | −3.0% | −7.3% | −10.4% | −0.1% |
| Net income growth | −22.1% | 69.1% | −12.5% | −144.2% | — | 0.0% | −88.4% | −1,262.4% | — | 163.3% |
| EPS growth | −21.4% | 70.3% | −12.4% | −145.4% | — | −0.4% | −88.2% | −1,277.4% | — | 171.9% |
| FCF growth | −20.4% | 27.8% | −35.2% | 15.1% | 41.4% | −11.4% | −21.7% | −32.9% | 7.3% | 48.4% |
| Share count change | −0.9% | −0.5% | −0.1% | −2.8% | 0.5% | 0.2% | −0.4% | −2.5% | −0.2% | −2.9% |
| Financial health | ||||||||||
| Net debt / EBITDA | 0.8x | 0.5x | 1.0x | 4.7x | 1.9x | 1.6x | 2.4x | 3.0x | 1.9x | 1.5x |
| Debt / equity | 0.4x | 0.3x | 0.4x | 0.8x | 0.8x | 0.7x | 0.7x | 1.1x | 1.1x | 0.8x |
| Interest coverage | 12.5x | 17.4x | 13.9x | −2.2x | 10.1x | 11.1x | 1.5x | 1.1x | 4.2x | 6.3x |
| Current ratio | 0.5x | 0.6x | 0.6x | 0.7x | 0.5x | 0.6x | 0.6x | 0.5x | 0.5x | 0.5x |
| Quick ratio | 0.4x | 0.5x | 0.5x | 0.6x | 0.5x | 0.5x | 0.6x | 0.5x | 0.5x | 0.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 6.1% | 6.4% | 4.3% | 4.8% | 4.0% | 4.3% | 4.0% | 4.1% | 3.7% | 3.1% |
| Stock comp / revenue | 1.0% | 0.6% | 1.0% | 1.1% | 1.1% | 1.2% | 1.3% | 1.3% | 1.3% | 1.2% |
| Payouts / FCF | 58.1% | 42.2% | 78.2% | 61.7% | 32.8% | 42.8% | 57.3% | 92.8% | 96.7% | 83.3% |
| Quality scores | ||||||||||
| Piotroski F-score | 7.0 | 7.0 | 5.0 | 4.0 | 6.0 | 5.0 | 5.0 | 5.0 | 8.0 | 8.0 |
| Altman Z'' | 2.3 | 2.5 | 2.5 | 1.5 | 1.7 | 2.0 | 1.9 | 1.4 | 2.0 | 2.5 |
| Accruals ratio | −7.3% | −7.0% | −2.9% | −11.9% | −6.4% | −5.6% | −8.0% | −14.0% | −4.4% | −1.5% |
Source: SEC EDGAR XBRL filings (CIK 0000107140). Data updated October 19, 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.