
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | FY2003 | FY2002 | FY2001 | FY2000 | FY1999 | FY1998 | FY1997 | FY1996 | FY1995 | FY1994 | FY1993 | FY1992 | FY1991 | FY1990 | FY1989 | FY1988 | FY1987 | FY1986 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||||||||||||||||||||||||||||||||||
| Market cap | $53,608 | $67,096 | $54,294 | $46,425 | $54,947 | $61,027 | $43,302 | $32,380 | $25,433 | $17,893 | $10,299 | $11,880 | $11,480 | $8,802 | $8,197 | $9,259 | $5,445 | $3,734 | $9,477 | $10,086 | $9,295 | $6,695 | $2,864 | $1,689 | $2,322 | $2,109 | $1,844 | $2,432 | $1,806 | $1,507 | $1,506 | $1,651 | $1,229 | $1,147 | $695 | $1,111 | $958 | $714 | $447 | $351 | $165 |
| Enterprise value | $53,745 | $67,769 | $54,674 | $47,019 | $56,243 | $61,356 | $44,003 | $33,514 | $25,696 | $17,483 | $9,536 | $10,600 | $9,959 | $7,594 | $6,786 | $7,984 | $4,445 | $2,805 | $8,528 | $9,308 | $8,926 | $6,162 | $2,501 | $1,442 | $1,984 | $1,862 | $1,485 | $2,223 | $1,710 | $1,442 | $1,377 | $1,456 | $1,143 | $1,073 | $622 | $1,059 | $898 | $606 | $350 | $328 | $149 |
| P/E (TTM) at period end | 47.69× | 60.34× | 59.93× | 56.41× | 110.56× | 50.52× | 201.87× | – | – | – | – | 145.23× | 50.17× | 35.58× | 28.73× | 43.67× | 93.89× | 20.34× | 26.61× | 34.82× | 27.86× | 30.28× | 23.81× | 52.93× | 25.71× | 22.62× | 187.99× | 25.04× | 32.13× | 36.23× | 17.16× | 29.17× | 19.75× | 26.12× | 12.02× | 19.56× | 20.64× | 21.84× | 21.79× | 30.26× | 25.34× |
| P/S (TTM) at period end | 7.44× | 10.94× | 9.88× | 9.28× | 12.53× | 16.10× | 13.22× | 12.60× | 12.37× | 8.81× | 4.11× | 4.73× | 5.05× | 3.81× | 3.70× | 4.74× | 3.18× | 1.61× | 4.36× | 5.48× | 6.05× | 5.40× | 3.01× | 2.05× | 2.45× | 2.25× | 2.25× | 2.79× | 2.35× | 3.03× | 2.82× | 3.63× | 3.03× | 3.25× | 2.54× | 4.67× | 5.36× | 6.09× | 5.63× | 6.70× | 5.58× |
| P/B at period end | 17.61× | 25.60× | 29.27× | 40.55× | 64.72× | 63.24× | – | – | – | 24.39× | 6.36× | 5.35× | 5.08× | 4.31× | 4.35× | 5.75× | 3.70× | 2.85× | 7.70× | 9.05× | 11.75× | 10.33× | 4.61× | 2.97× | 4.39× | 4.59× | 3.06× | 5.28× | 5.96× | 6.19× | 4.40× | 5.10× | 4.14× | 4.28× | 2.60× | 5.09× | 6.02× | 4.84× | 3.89× | 10.32× | 7.77× |
| EV / EBITDA (TTM) | 30.31× | 44.18× | 43.15× | 41.28× | 73.42× | 81.48× | 93.56× | 477.41× | – | – | 64.83× | 39.76× | 24.07× | 17.51× | 14.40× | 21.19× | 25.10× | 8.33× | 16.82× | 23.09× | 21.14× | 21.73× | 15.98× | 19.53× | 12.32× | 8.97× | 12.88× | 9.93× | 9.11× | 14.53× | 8.93× | 11.00× | 10.36× | 14.39× | 6.54× | 11.20× | 11.99× | – | – | – | – |
| EV / Sales (TTM) | 7.46× | 11.05× | 9.95× | 9.39× | 12.82× | 16.19× | 13.44× | 13.04× | 12.49× | 8.61× | 3.81× | 4.22× | 4.38× | 3.28× | 3.06× | 4.09× | 2.59× | 1.21× | 3.93× | 5.06× | 5.81× | 4.97× | 2.63× | 1.75× | 2.09× | 1.99× | 1.81× | 2.55× | 2.22× | 2.90× | 2.58× | 3.20× | 2.82× | 3.04× | 2.27× | 4.45× | 5.03× | 5.17× | 4.41× | 6.27× | 5.04× |
| Returns | |||||||||||||||||||||||||||||||||||||||||
| Return on equity | 36.9% | 42.4% | 48.8% | 71.9% | 58.5% | 125.2% | – | – | – | (79.3%) | (20.4%) | 3.7% | 10.1% | 12.1% | 15.2% | 13.2% | 3.9% | 14.0% | 28.9% | 26.0% | 42.2% | 34.1% | 19.4% | 5.6% | 17.1% | 20.3% | 1.6% | 21.1% | 18.5% | 17.1% | 25.7% | 17.5% | 20.9% | 16.4% | 21.6% | 26.0% | 29.2% | 22.1% | 17.9% | 34.1% | 30.7% |
| Return on invested capital | 31.3% | 30.4% | 34.7% | 46.2% | 22.8% | 48.5% | 39.6% | (2.5%) | (202.0%) | (49.4%) | 0.1% | 7.6% | 20.2% | 20.7% | 38.5% | 39.6% | 7.1% | 39.9% | 108.0% | 61.5% | 63.9% | 161.6% | 30.6% | 5.4% | 18.1% | 25.1% | 2.9% | 34.8% | 30.9% | 22.6% | 38.4% | 53.1% | 27.3% | 18.8% | 25.9% | 30.1% | 40.9% | 70.9% | 100.7% | 96.8% | 116.0% |
| Dividend yield | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.0% | 0.2% | 0.5% | 0.8% | 0.6% | 0.6% | 0.8% | 0.5% | 0.6% | 0.7% | 0.7% | 0.7% | 0.9% | 1.0% | 1.6% | 0.9% | 4.0% | – | – | – | – |
| Financial health | |||||||||||||||||||||||||||||||||||||||||
| Current ratio | 0.85× | 0.68× | 0.82× | 0.84× | 0.69× | 0.81× | 0.83× | 0.70× | 0.88× | 1.13× | 1.88× | 1.91× | 2.65× | 2.45× | 1.99× | 1.97× | 1.96× | 1.73× | 1.98× | 2.07× | 1.46× | 1.64× | 1.55× | 1.45× | 1.52× | 1.47× | 1.82× | 1.95× | 1.54× | 2.07× | 2.41× | 2.41× | 2.73× | 2.96× | 4.34× | 4.28× | 4.66× | 7.16× | 12.76× | 6.45× | 7.35× |
| Debt / equity | 0.82× | 0.99× | 1.24× | 2.01× | 3.53× | 1.71× | (18.34×) | (9.90×) | (6.20×) | 2.03× | 0.92× | 0.33× | 0.33× | 0.36× | – | – | – | 0.04× | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.05× | 0.01× |
| Effective tax rate | 29.9% | 19.7% | 20.2% | 13.0% | 12.0% | (120.9%) | 27.2% | (89.2%) | (1.7%) | (11.1%) | (1528.1%) | 1.4% | 18.3% | 20.2% | 21.4% | 22.1% | 31.5% | 27.3% | 24.2% | 21.0% | 14.8% | 9.0% | 2.3% | 17.1% | 27.8% | 35.6% | 59.0% | 39.0% | 47.3% | 37.4% | 36.5% | 36.5% | 35.7% | 37.1% | 37.4% | 38.3% | 39.3% | 39.7% | 41.4% | 49.3% | 50.0% |
| Share count | |||||||||||||||||||||||||||||||||||||||||
| Diluted shares outstanding | 215 | 217 | 216 | 218 | 222 | 222 | 222 | 219 | 220 | 223 | 226 | 232 | 230 | 232 | 233 | 234 | 232 | 230 | 242 | 243 | 248 | 246 | 231 | 230 | 237 | 234 | 246 | 237 | 199 | 191 | 199 | 199 | 190 | 192 | 197 | 195 | 194 | 192 | 191 | 169 | 161 |
| Line item | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | FY2003 | FY2002 | FY2001 | FY2000 | FY1999 | FY1998 | FY1997 | FY1996 | FY1995 | FY1994 | FY1993 | FY1992 | FY1991 | FY1990 | FY1989 | FY1988 | FY1987 | FY1986 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue and gross profit | ||||||||||||||||||||||||||||||||||||||||||
| Revenue | $7,790 | $7,206 | $6,131 | $5,497 | $5,005 | $4,386 | $3,790 | $3,274 | $2,570 | $2,057 | $2,031 | $2,504 | $2,512 | $2,274 | $2,312 | $2,216 | $1,952 | $1,714 | $2,315 | $2,172 | $1,840 | $1,537 | $1,239 | $952 | $825 | $947 | $936 | $820 | $872 | $769 | $497 | $534 | $455 | $406 | $353 | $274 | $238 | $179 | $117 | $79 | $52 | $30 |
| Cost of revenue | ($682) | ($650) | ($578) | ($511) | ($480) | ($418) | ($337) | ($325) | ($286) | ($303) | ($342) | ($371) | ($342) | ($274) | ($238) | ($229) | ($197) | ($192) | ($219) | ($208) | ($217) | ($171) | ($170) | ($148) | ($140) | ($151) | ($108) | ($95) | ($82) | ($89) | ($30) | ($42) | ($37) | ($43) | ($47) | ($24) | ($14) | ($15) | ($11) | ($8) | ($7) | ($4) |
| Gross profit | $7,108 | $6,556 | $5,553 | $4,986 | $4,525 | $3,968 | $3,453 | $2,949 | $2,284 | $1,753 | $1,689 | $2,133 | $2,170 | $2,000 | $2,074 | $1,986 | $1,755 | $1,522 | $2,096 | $1,964 | $1,623 | $1,366 | $1,069 | $804 | $685 | $796 | $828 | $725 | $790 | $680 | $467 | $493 | $418 | $363 | $306 | $250 | $224 | $164 | $107 | $71 | $46 | $25 |
| Operating expenses | ||||||||||||||||||||||||||||||||||||||||||
| Research and development | ($1,721) | ($1,643) | ($1,485) | ($1,373) | ($1,219) | ($1,115) | ($932) | ($851) | ($725) | ($756) | ($766) | ($790) | ($725) | ($611) | ($600) | ($566) | ($496) | ($458) | ($576) | ($490) | ($406) | ($303) | ($242) | ($209) | ($173) | ($169) | ($170) | ($164) | ($157) | ($137) | ($94) | ($79) | ($65) | ($56) | – | – | – | – | – | – | – | – |
| Selling, general and administrative | ($704) | ($693) | ($650) | ($620) | ($532) | ($572) | ($414) | ($406) | ($340) | ($305) | ($288) | ($293) | ($283) | ($212) | ($206) | ($223) | ($201) | ($198) | ($206) | ($180) | ($867) | ($684) | ($569) | ($484) | ($461) | ($475) | ($450) | ($446) | ($409) | ($355) | ($368) | ($260) | ($220) | ($196) | ($231) | ($155) | ($129) | ($89) | ($56) | ($38) | ($23) | ($13) |
| Total operating expenses | ($5,067) | ($4,978) | ($4,199) | ($3,858) | ($3,536) | ($3,350) | ($2,824) | ($2,606) | ($2,309) | ($2,262) | ($2,189) | ($2,132) | ($2,049) | ($1,715) | ($1,768) | ($1,631) | ($1,484) | ($1,456) | ($1,852) | ($1,519) | ($1,274) | ($988) | ($838) | ($697) | ($660) | ($698) | ($690) | ($690) | ($647) | ($558) | ($403) | ($364) | ($310) | ($273) | ($248) | ($169) | ($143) | ($97) | ($60) | ($40) | ($24) | ($13) |
| Total costs and expenses | ($5,749) | ($5,628) | ($4,777) | ($4,369) | ($4,016) | ($3,768) | ($3,161) | ($2,931) | ($2,595) | ($2,566) | ($2,531) | ($2,503) | ($2,392) | ($1,989) | ($2,006) | ($1,860) | ($1,680) | ($1,648) | ($2,071) | ($1,726) | ($1,490) | ($1,159) | ($1,007) | ($845) | ($800) | ($849) | ($798) | ($785) | ($729) | ($647) | ($432) | ($405) | ($347) | ($316) | ($295) | ($194) | ($157) | ($112) | ($70) | ($48) | ($31) | ($17) |
| Operating income | $2,041 | $1,578 | $1,354 | $1,128 | $989 | $618 | $629 | $343 | ($25) | ($509) | ($500) | $1 | $121 | $285 | $306 | $356 | $271 | $66 | $244 | $446 | $350 | $378 | $232 | $106 | $25 | $98 | $139 | $36 | $143 | $121 | $64 | $129 | $107 | $90 | $58 | $80 | $81 | $67 | $47 | $31 | $22 | $12 |
| Earnings | ||||||||||||||||||||||||||||||||||||||||||
| EBITDA | $2,242 | $1,773 | $1,534 | $1,267 | $1,139 | $766 | $753 | $470 | $70 | ($401) | ($360) | $147 | $267 | $414 | $434 | $471 | $377 | $177 | $337 | $507 | $403 | $422 | $284 | $157 | $74 | $161 | $208 | $115 | $224 | $188 | $99 | $154 | $132 | $110 | $75 | $95 | $94 | $75 | – | – | – | – |
| Interest income | $72 | $83 | $85 | $91 | $21 | – | – | – | – | – | – | – | ($13) | ($10) | $5 | $5 | $9 | $10 | $14 | $33 | $21 | $11 | $7 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Interest expense | ($70) | ($80) | ($71) | ($71) | ($83) | ($53) | ($82) | ($48) | ($18) | ($48) | ($24) | ($22) | ($38) | ($5) | $4 | $7 | $1 | $19 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Pre-tax income | $2,105 | $1,603 | $1,384 | $1,136 | $946 | $565 | $547 | $295 | ($43) | ($557) | ($524) | ($20) | $83 | $280 | $310 | $363 | $272 | $85 | $252 | $470 | $366 | $392 | $243 | $123 | $38 | $127 | $145 | $24 | $159 | $107 | $66 | $138 | $89 | $97 | $70 | $92 | $92 | $76 | $54 | $35 | $23 | $13 |
| Income tax expense | ($463) | ($479) | ($272) | ($230) | ($123) | ($68) | $661 | ($80) | ($38) | ($10) | ($58) | ($310) | ($1) | ($51) | ($63) | ($78) | ($60) | ($27) | ($69) | ($114) | ($77) | ($58) | ($22) | ($3) | ($7) | ($35) | ($52) | ($14) | ($62) | ($50) | ($25) | ($50) | ($32) | ($35) | ($26) | ($34) | ($35) | ($30) | ($22) | ($14) | ($11) | ($6) |
| Net income | $1,642 | $1,124 | $1,112 | $906 | $823 | $497 | $1,208 | $214 | ($81) | ($567) | ($582) | ($330) | $82 | $229 | $247 | $285 | $212 | $58 | $184 | $356 | $290 | $334 | $221 | $120 | $32 | $90 | $93 | $10 | $97 | $56 | $42 | $88 | $57 | $62 | $44 | $58 | $57 | $46 | $33 | $20 | $12 | $6 |
| Per share | ||||||||||||||||||||||||||||||||||||||||||
| Diluted EPS (GAAP) | $7.73 | $5.23 | $5.12 | $4.19 | $3.78 | $2.24 | $5.44 | $0.96 | ($0.37) | ($2.58) | ($2.61) | ($1.46) | $0.35 | $1.00 | $1.07 | $1.22 | $0.90 | $0.25 | $0.80 | $1.47 | $1.19 | $1.35 | $0.90 | $0.52 | $0.14 | $0.38 | $0.40 | $0.04 | $0.41 | $0.23 | $0.055 | $0.44 | $0.28 | $0.0391 | $0.0275 | $0.0363 | $0.0359 | $0.03 | $0.0213 | $0.0141 | $0.0029 | $0.0018 |
| Basic EPS (GAAP) | $7.77 | $5.28 | $5.17 | $4.23 | $3.81 | $2.26 | $5.52 | $0.98 | ($0.37) | ($2.58) | ($2.61) | ($1.46) | $0.36 | $1.02 | $1.09 | $1.25 | $0.93 | $0.25 | $0.81 | $1.55 | $1.26 | $1.46 | $0.97 | $0.54 | $0.14 | $0.40 | $0.41 | $0.04 | $0.43 | $0.24 | $0.0569 | $0.44 | $0.28 | $0.0406 | $0.0275 | $0.0363 | $0.0359 | $0.03 | $0.0213 | $0.0141 | $0.0029 | $0.0018 |
| Basic shares outstanding | 212 | 213 | 215 | 214 | 216 | 220 | 219 | 220 | 219 | 220 | 223 | 226 | 227 | 224 | 226 | 228 | 228 | 229 | 226 | 230 | 231 | 229 | 228 | 223 | 226 | 227 | 229 | 241 | 226 | 187 | 191 | 199 | 199 | 190 | 192 | 197 | 195 | 194 | 192 | 191 | 169 | 161 |
| Margins | ||||||||||||||||||||||||||||||||||||||||||
| Gross margin | 91.2% | 91.0% | 90.6% | 90.7% | 90.4% | 90.5% | 91.1% | 90.1% | 88.9% | 85.2% | 83.2% | 85.2% | 86.4% | 87.9% | 89.7% | 89.7% | 89.9% | 88.8% | 90.5% | 90.4% | 88.2% | 88.9% | 86.3% | 84.4% | 83.0% | 84.0% | 88.5% | 88.4% | 90.6% | 88.4% | 94.1% | 92.2% | 91.9% | 89.4% | 86.6% | 91.1% | 94.1% | 91.8% | 91.0% | 90.0% | 86.8% | 85.8% |
| Operating margin | 26.2% | 21.9% | 22.1% | 20.5% | 19.8% | 14.1% | 16.6% | 10.5% | (1.0%) | (24.8%) | (24.6%) | 0.1% | 4.8% | 12.5% | 13.2% | 16.0% | 13.9% | 3.8% | 10.6% | 20.5% | 19.0% | 24.6% | 18.7% | 11.2% | 3.0% | 10.4% | 14.8% | 4.3% | 16.4% | 15.8% | 13.0% | 24.1% | 23.6% | 22.1% | 16.5% | 29.3% | 34.0% | 37.5% | 40.0% | 39.5% | 41.2% | 41.7% |
| Net margin | 21.1% | 15.6% | 18.1% | 16.5% | 16.4% | 11.3% | 31.9% | 6.6% | (3.1%) | (27.6%) | (28.7%) | (13.2%) | 3.3% | 10.1% | 10.7% | 12.9% | 10.9% | 3.4% | 7.9% | 16.4% | 15.7% | 21.7% | 17.8% | 12.6% | 3.9% | 9.5% | 10.0% | 1.2% | 11.1% | 7.3% | 8.4% | 16.4% | 12.5% | 15.3% | 12.4% | 21.1% | 23.9% | 26.0% | 27.9% | 25.9% | 22.1% | 22.0% |