
| Line item | 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 | FY1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||||||||||||||||||||||||||||||||||
| Market cap | $10,969 | $13,629 | $13,490 | $17,689 | $23,356 | $16,002 | $10,761 | $8,685 | $8,120 | $5,709 | $6,027 | $4,924 | $4,628 | $3,610 | $2,260 | $3,024 | $2,394 | $1,637 | $3,094 | $2,783 | $3,046 | $2,864 | $2,152 | $1,036 | $3,662 | $4,772 | $1,903 | $1,256 | $948 | $954 | $1,250 | $791 | $1,035 | $1,104 | $1,384 | $882 | $1,005 | $859 | $922 | $764 | $1,027 |
| Enterprise value | $13,566 | $15,792 | $15,952 | $21,831 | $27,913 | $17,835 | $12,826 | $10,414 | $9,924 | $6,396 | $6,802 | $5,795 | $5,388 | $4,377 | $3,062 | $3,030 | $2,772 | $1,967 | $3,407 | $2,745 | $2,788 | $3,041 | $2,510 | $1,711 | $4,248 | $5,413 | $2,273 | $1,448 | $1,051 | $1,043 | $1,294 | $850 | $1,060 | $1,116 | $1,380 | $944 | $1,090 | $866 | $971 | $802 | $1,088 |
| P/E (TTM) at period end | 45.48× | 50.41× | 19.46× | 31.08× | 24.76× | 21.98× | 47.29× | 36.50× | 27.75× | 24.37× | 28.37× | 31.21× | 27.68× | 51.61× | 295.17× | 7.73× | 29.16× | 12.95× | 23.28× | 23.76× | 37.26× | 37.74× | 40.64× | – | – | 52.72× | 67.00× | 12.31× | 28.14× | 15.84× | 23.02× | – | 13.00× | 12.58× | 17.04× | 11.92× | 14.38× | 12.50× | 16.62× | 17.01× | 18.44× |
| P/S (TTM) at period end | 3.84× | 4.95× | 4.90× | 5.34× | 6.10× | 6.01× | 3.73× | 3.13× | 3.60× | 2.70× | 2.86× | 2.38× | 2.15× | 1.71× | 1.18× | 1.78× | 1.54× | 0.99× | 1.73× | 1.80× | 2.07× | 2.00× | 1.40× | 0.69× | 2.75× | 2.81× | 1.40× | 0.89× | 0.65× | 0.67× | 0.88× | 0.59× | 0.38× | 0.40× | 0.51× | 0.36× | 0.61× | 0.61× | 0.75× | 0.67× | 0.89× |
| P/B at period end | 1.51× | 1.78× | 1.71× | 2.40× | 3.27× | 4.28× | 3.82× | 3.36× | 3.24× | 2.65× | 2.86× | 2.41× | 2.32× | 1.86× | 1.23× | 1.57× | 1.47× | 1.04× | 1.96× | 1.76× | 1.85× | 1.96× | 1.60× | 0.83× | 2.69× | 6.55× | 3.45× | 3.14× | 2.89× | 2.61× | 3.41× | 1.78× | 2.17× | 2.33× | 3.29× | 2.39× | 2.88× | 2.59× | 3.40× | 3.23× | 5.05× |
| EV / EBITDA (TTM) | 17.80× | 20.39× | 21.78× | 18.66× | 17.78× | 16.68× | 22.27× | 20.64× | 24.77× | 16.21× | 19.09× | 21.04× | 15.19× | 19.18× | 15.16× | 12.28× | 14.09× | 8.74× | 13.34× | 12.42× | 9.74× | 14.23× | 9.17× | 7.80× | 15.07× | 19.92× | 13.33× | 18.05× | 6.40× | 8.11× | 10.60× | 5.06× | 6.68× | 6.99× | 8.69× | 6.86× | 8.80× | – | – | – | – |
| EV / Sales (TTM) | 4.75× | 5.73× | 5.80× | 6.59× | 7.29× | 6.70× | 4.45× | 3.75× | 4.40× | 3.02× | 3.23× | 2.80× | 2.50× | 2.08× | 1.60× | 1.78× | 1.79× | 1.18× | 1.91× | 1.78× | 1.89× | 2.13× | 1.64× | 1.14× | 3.19× | 3.19× | 1.67× | 1.03× | 0.72× | 0.73× | 0.91× | 0.64× | 0.39× | 0.40× | 0.51× | 0.38× | 0.66× | 0.62× | 0.79× | 0.70× | 0.94× |
| Returns | |||||||||||||||||||||||||||||||||||||||||
| Return on equity | 3.3% | 3.5% | 8.8% | 7.7% | 13.2% | 19.5% | 8.1% | 9.2% | 11.7% | 10.9% | 10.1% | 7.7% | 8.4% | 3.6% | 0.4% | 20.3% | 5.0% | 8.1% | 8.4% | 7.4% | 5.0% | 5.2% | 3.9% | (0.3%) | (0.0%) | 12.4% | 5.2% | 25.5% | 10.3% | 16.5% | 14.8% | (7.2%) | 16.7% | 18.5% | 19.3% | 20.0% | 20.0% | 20.7% | 20.4% | 19.0% | 27.4% |
| Return on invested capital | 3.2% | 3.2% | 2.7% | 5.1% | 7.9% | 12.7% | 7.1% | 6.9% | 3.6% | 9.2% | 7.9% | 5.7% | 8.3% | 3.8% | 0.1% | 6.8% | 4.2% | 6.8% | 8.2% | 7.7% | 11.6% | 6.4% | 7.3% | 3.1% | – | 8.0% | 7.2% | 3.5% | 16.0% | 13.1% | 12.7% | 26.0% | 15.7% | 18.4% | 20.3% | 17.2% | 15.9% | 20.4% | 17.0% | 9.2% | 15.2% |
| Dividend yield | 0.3% | 0.3% | 0.3% | 0.2% | 0.1% | 0.2% | 0.3% | 0.4% | 0.4% | 0.5% | 0.5% | 0.6% | 0.7% | 0.9% | 1.4% | 1.1% | 1.4% | 2.0% | 1.1% | 1.3% | 1.2% | 1.2% | 1.6% | 3.4% | 0.8% | 0.6% | 1.3% | 2.0% | 2.7% | 2.8% | 2.3% | 3.9% | 2.8% | 2.5% | 1.7% | 2.5% | 2.0% | – | – | – | – |
| Financial health | |||||||||||||||||||||||||||||||||||||||||
| Current ratio | 1.68× | 3.60× | 2.07× | 2.13× | 2.01× | 1.36× | 1.80× | 1.60× | 1.26× | 1.97× | 1.84× | 1.79× | 1.73× | 1.67× | 1.47× | 2.11× | 1.78× | 1.61× | 1.54× | 1.56× | 2.02× | 1.68× | 1.70× | 1.42× | 1.25× | 1.43× | 0.96× | 1.10× | 1.71× | 1.75× | 1.87× | 1.71× | 1.96× | 2.05× | 1.89× | 1.58× | 1.59× | 2.10× | 1.55× | 1.63× | 1.46× |
| Debt / equity | 0.44× | 0.41× | 0.50× | 0.60× | 0.70× | 0.53× | 0.74× | 0.73× | 0.80× | 0.49× | 0.48× | 0.51× | 0.47× | 0.48× | 0.51× | 0.22× | 0.34× | 0.32× | 0.33× | 0.10× | 0.15× | 0.26× | 0.41× | 0.64× | 0.53× | 1.05× | 0.90× | 0.72× | 0.49× | 0.37× | 0.33× | 0.28× | 0.20× | 0.17× | 0.14× | 0.26× | 0.32× | 0.15× | 0.30× | 0.25× | 0.38× |
| Effective tax rate | 10.6% | 10.5% | 1.9% | 21.3% | 26.1% | 18.7% | 4.0% | 7.8% | 47.1% | 11.6% | 9.6% | (5.1%) | (6.5%) | (29.2%) | 98.2% | 16.3% | 26.7% | 12.3% | 11.5% | 21.5% | 0.2% | 23.6% | 32.0% | 51.6% | 101.8% | 40.4% | 36.7% | 34.6% | 43.3% | 32.2% | 36.9% | (87.7%) | 34.7% | 27.5% | 32.5% | 31.0% | 30.0% | 29.5% | 31.5% | 37.9% | 37.1% |
| Share count | |||||||||||||||||||||||||||||||||||||||||
| Diluted shares outstanding | 117 | 123 | 125 | 126 | 117 | 112 | 112 | 112 | 111 | 110 | 113 | 114 | 114 | 115 | 114 | 118 | 117 | 119 | 121 | 126 | 131 | 130 | 129 | 126 | 108 | 102 | 91 | 92 | 91 | 95 | 106 | 112 | 113 | 113 | 111 | 114 | 116 | 119 | 111 | 108 | 107 |
| Line item | TTM | 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 | FY1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue and gross profit | ||||||||||||||||||||||||||||||||||||||||||
| Revenue | $2,912 | $2,856 | $2,755 | $2,751 | $3,312 | $3,828 | $2,663 | $2,884 | $2,778 | $2,257 | $2,116 | $2,105 | $2,070 | $2,158 | $2,105 | $1,919 | $1,702 | $1,551 | $1,660 | $1,787 | $1,546 | $1,474 | $1,429 | $1,535 | $1,505 | $1,330 | $1,695 | $1,363 | $1,408 | $1,461 | $1,427 | $1,420 | $1,333 | $2,698 | $2,789 | $2,688 | $2,474 | $1,650 | $1,406 | $1,236 | $1,145 | $1,155 |
| Cost of revenue | ($1,311) | ($1,292) | ($1,217) | ($1,211) | ($1,322) | ($1,394) | ($933) | ($1,488) | ($1,437) | ($709) | ($665) | ($696) | ($708) | ($784) | ($763) | ($687) | ($946) | ($852) | ($926) | ($1,072) | ($923) | ($859) | ($846) | ($906) | ($904) | ($722) | ($918) | ($787) | ($991) | ($1,040) | ($1,008) | ($1,013) | ($958) | ($2,305) | ($2,387) | ($2,306) | ($2,141) | ($1,346) | ($1,114) | ($984) | ($935) | ($928) |
| Gross profit | $1,601 | $1,564 | $1,538 | $1,540 | $1,990 | $2,434 | $1,730 | $1,396 | $1,341 | $1,074 | $1,013 | $964 | $1,005 | $976 | $963 | $848 | $761 | $699 | $734 | $715 | $623 | $615 | $583 | $629 | $601 | $608 | $777 | $576 | $417 | $421 | $420 | $407 | $375 | $393 | $402 | $382 | $334 | $304 | $292 | $252 | $210 | $227 |
| Operating expenses | ||||||||||||||||||||||||||||||||||||||||||
| Research and development | ($216) | ($216) | ($197) | ($217) | ($222) | ($200) | ($146) | ($189) | ($194) | ($139) | ($124) | ($113) | ($108) | ($132) | ($132) | ($116) | ($95) | ($90) | ($93) | ($110) | ($98) | ($87) | ($82) | ($83) | ($86) | ($81) | ($86) | ($71) | ($46) | ($45) | – | – | – | – | – | – | – | – | – | – | – | – |
| Selling, general and administrative | ($1,026) | ($992) | ($994) | ($1,023) | ($1,026) | ($975) | ($716) | ($815) | ($812) | ($626) | ($590) | ($587) | ($648) | ($582) | ($627) | ($624) | ($487) | ($477) | ($486) | ($431) | ($374) | ($365) | ($362) | ($386) | ($431) | ($411) | ($419) | ($327) | ($226) | ($243) | ($291) | ($285) | ($278) | ($235) | ($242) | ($223) | ($196) | ($180) | ($169) | ($151) | ($133) | ($130) |
| Total operating expenses | ($1,242) | ($1,208) | ($1,191) | ($1,239) | ($1,247) | ($1,176) | ($863) | ($1,034) | ($1,017) | ($778) | ($719) | ($713) | ($840) | ($748) | ($860) | ($757) | ($604) | ($583) | ($586) | ($540) | ($472) | ($453) | ($445) | ($445) | ($478) | ($411) | ($593) | ($471) | ($385) | ($299) | ($332) | ($324) | ($244) | ($272) | ($278) | ($257) | ($226) | ($205) | ($194) | ($173) | ($169) | ($163) |
| Total costs and expenses | ($2,553) | ($2,499) | ($2,408) | ($2,450) | ($2,569) | ($2,569) | ($1,796) | ($2,522) | ($2,454) | ($1,961) | ($1,821) | ($1,854) | ($1,905) | ($1,930) | ($2,002) | ($1,827) | ($1,544) | ($1,435) | ($1,512) | ($1,613) | ($1,395) | ($1,312) | ($1,291) | ($1,351) | ($1,382) | ($1,132) | ($1,511) | ($1,259) | ($1,376) | ($1,339) | ($1,340) | ($1,337) | ($1,201) | ($2,577) | ($2,666) | ($2,563) | ($2,367) | ($1,552) | ($1,308) | ($1,157) | ($1,104) | ($1,091) |
| Operating income | $359 | $357 | $347 | $301 | $743 | $1,258 | $867 | $362 | $324 | $296 | $295 | $251 | $165 | $228 | $103 | $91 | $158 | $116 | $148 | $175 | $152 | $162 | $138 | $184 | $123 | $198 | $184 | $104 | $32 | $122 | $88 | $83 | $131 | $121 | $123 | $125 | $108 | $98 | $98 | $79 | $41 | $64 |
| Earnings | ||||||||||||||||||||||||||||||||||||||||||
| EBITDA | $771 | $762 | $775 | $732 | $1,170 | $1,570 | $1,069 | $576 | $504 | $401 | $395 | $356 | $275 | $355 | $228 | $202 | $247 | $197 | $225 | $255 | $221 | $286 | $214 | $274 | $219 | $282 | $272 | $170 | $80 | $164 | $129 | $122 | $168 | $159 | $160 | $159 | $138 | $124 | – | – | – | – |
| Interest income | $24 | $31 | $73 | $72 | $4 | $2 | $1 | $1 | $1 | $3 | $1 | $1 | $1 | $1 | $1 | $2 | $1 | $1 | $4 | $5 | $9 | $3 | $2 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Interest expense | ($94) | ($92) | ($96) | ($99) | ($104) | ($55) | ($50) | ($64) | ($67) | ($44) | ($42) | ($38) | ($36) | ($50) | ($46) | ($25) | ($16) | ($16) | ($82) | ($42) | – | – | ($48) | ($105) | ($280) | ($128) | ($75) | ($7) | – | ($65) | ($9) | – | ($122) | ($12) | – | ($1) | – | – | – | – | – | – |
| Pre-tax income | $261 | $268 | $316 | $183 | $652 | $1,204 | $906 | $237 | $258 | $297 | $244 | $209 | $124 | $164 | $55 | $64 | $166 | $100 | $104 | $151 | $151 | $67 | $99 | $81 | ($9) | $34 | $144 | $45 | $156 | $54 | $80 | $86 | ($17) | $122 | $121 | $120 | $107 | $100 | $97 | $81 | $72 | $89 |
| Income tax expense | ($23) | ($28) | ($33) | ($3) | ($139) | ($314) | ($170) | ($9) | ($20) | ($140) | ($28) | ($20) | $6 | $11 | $16 | ($63) | ($27) | ($27) | ($13) | ($17) | ($32) | ($0) | ($23) | ($26) | $4 | ($35) | ($58) | ($16) | ($54) | ($23) | ($26) | ($32) | ($15) | ($42) | ($33) | ($39) | ($33) | ($30) | ($29) | ($26) | ($27) | ($33) |
| Net income | $238 | $241 | $270 | $693 | $569 | $943 | $728 | $228 | $238 | $293 | $234 | $212 | $158 | $167 | $70 | $8 | $391 | $82 | $126 | $133 | $117 | $82 | $76 | $53 | ($4) | ($1) | $91 | $28 | $102 | $34 | $60 | $54 | ($32) | $80 | $88 | $81 | $74 | $70 | $69 | $56 | $45 | $56 |
| Per share | ||||||||||||||||||||||||||||||||||||||||||
| Diluted EPS (GAAP) | $2.10 | $2.07 | $2.20 | $5.55 | $4.50 | $8.08 | $6.49 | $2.04 | $2.13 | $2.64 | $2.12 | $1.87 | $1.39 | $1.47 | $0.61 | $0.07 | $3.31 | $0.70 | $1.07 | $1.10 | $0.926 | $0.6234 | $0.58 | $0.41 | ($0.0329) | ($0.0057) | $0.89 | $0.31 | $1.11 | $0.37 | $0.64 | $0.51 | ($0.29) | $0.71 | $0.78 | $0.73 | $0.65 | $0.60 | $0.57 | $0.50 | $0.42 | $0.52 |
| Basic EPS (GAAP) | $2.10 | $2.07 | $2.21 | $5.56 | $4.51 | $8.12 | $6.52 | $2.06 | $2.15 | $2.67 | $2.14 | $1.89 | $1.40 | $1.49 | $0.61 | $0.07 | $3.34 | $0.71 | $1.07 | $1.12 | $0.9357 | $0.6324 | $0.60 | $0.42 | ($0.0329) | ($0.0059) | $0.92 | $0.31 | $1.13 | $0.37 | $0.64 | $0.53 | ($0.29) | $0.71 | $0.78 | $0.73 | $0.65 | $0.60 | $0.57 | $0.50 | $0.42 | $0.52 |
| Basic shares outstanding | 113 | 117 | 123 | 125 | 126 | 116 | 112 | 111 | 111 | 110 | 109 | 113 | 113 | 112 | 114 | 113 | 117 | 116 | 118 | 119 | 125 | 129 | 127 | 126 | 126 | 105 | 98 | 91 | 90 | 91 | 95 | 103 | 112 | 113 | 113 | 111 | 114 | 116 | 119 | 111 | 108 | 107 |
| Margins | ||||||||||||||||||||||||||||||||||||||||||
| Gross margin | 55.0% | 54.8% | 55.8% | 56.0% | 60.1% | 63.6% | 65.0% | 48.4% | 48.3% | 47.6% | 47.9% | 45.8% | 48.5% | 45.2% | 45.8% | 44.2% | 44.7% | 45.1% | 44.2% | 40.0% | 40.3% | 41.7% | 40.8% | 41.0% | 39.9% | 45.7% | 45.8% | 42.2% | 29.6% | 28.8% | 29.4% | 28.7% | 28.1% | 14.6% | 14.4% | 14.2% | 13.5% | 18.4% | 20.8% | 20.4% | 18.3% | 19.7% |
| Operating margin | 12.3% | 12.5% | 12.6% | 10.9% | 22.4% | 32.9% | 32.6% | 12.6% | 11.7% | 13.1% | 13.9% | 11.9% | 8.0% | 10.6% | 4.9% | 4.7% | 9.3% | 7.5% | 8.9% | 9.8% | 9.8% | 11.0% | 9.7% | 12.0% | 8.2% | 14.9% | 10.9% | 7.7% | 2.3% | 8.3% | 6.1% | 5.8% | 9.8% | 4.5% | 4.4% | 4.7% | 4.4% | 6.0% | 7.0% | 6.4% | 3.6% | 5.5% |
| Net margin | 8.2% | 8.4% | 9.8% | 25.2% | 17.2% | 24.6% | 27.3% | 7.9% | 8.6% | 13.0% | 11.1% | 10.1% | 7.6% | 7.7% | 3.3% | 0.4% | 23.0% | 5.3% | 7.6% | 7.4% | 7.6% | 5.5% | 5.3% | 3.4% | (0.3%) | (0.0%) | 5.3% | 2.1% | 7.2% | 2.3% | 4.2% | 3.8% | (2.4%) | 3.0% | 3.1% | 3.0% | 3.0% | 4.2% | 4.9% | 4.5% | 3.9% | 4.8% |