N 
168.86
+2.57%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$2.86bn
FY2016FY2025
Net income
$478.6m
FY2016FY2025
Free cash flow
$748.7m
FY2016FY2025
Shareholders' equity
$3.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.86bn | $2.36bn | $1.89bn | $1.49bn | $1.13bn | $1.05bn | $788.1m | $451.2m | $161.6m | $15.0m |
| Gross profit | $2.81bn | $2.32bn | $1.85bn | $1.47bn | $1.12bn | $1.04bn | $780.7m | $446.4m | $160.4m | $15.0m |
| Research and development | $1.02bn | $731.1m | $565.0m | $463.8m | $328.1m | $275.0m | $200.0m | $160.5m | $91.8m | $94.3m |
| Operating income | $619.1m | $570.5m | $394.8m | $249.0m | $102.5m | $163.0m | $72.3m | $36.9m | −$123.0m | −$147.4m |
| Net income | $478.6m | $341.3m | $249.7m | $154.5m | $89.6m | $407.3m | $37.0m | $21.1m | −$142.5m | −$141.1m |
| Diluted earnings per share | 4.67 | 3.32 | 2.44 | 1.53 | 0.94 | 4.19 | 0.38 | 0.22 | -1.54 | -1.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $4.63bn | $3.72bn | $3.25bn | $2.37bn | $2.07bn | $1.73bn | $1.31bn | $993.2m | $817.6m | $365.1m |
| Cash and short-term investments | $1.48bn | $1.08bn | $1.03bn | $989.3m | $711.3m | $801.0m | $670.5m | $650.9m | $515.9m | $307.4m |
| Total liabilities | $1.38bn | $1.13bn | $1.02bn | $660.9m | $698.5m | $608.5m | $669.1m | $512.4m | $445.5m | $50.2m |
| Debt | — | — | $170.1m | $169.4m | $335.1m | $317.9m | $408.8m | $388.5m | $369.6m | — |
| Shareholders' equity | $3.25bn | $2.59bn | $2.23bn | $1.71bn | $1.37bn | $1.13bn | $636.9m | $480.8m | $372.1m | $314.9m |
| Shares outstanding | 103m | 103m | 102m | 101m | 95m | 97m | 97m | 96m | 93m | 87m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $782.7m | $595.4m | $389.9m | $339.4m | $256.5m | $228.5m | $147.0m | $101.4m | −$94.3m | −$106.2m |
| Capital spending | −$34.0m | −$38.2m | −$28.3m | −$16.5m | −$23.4m | −$10.9m | −$14.7m | −$24.8m | −$6.9m | −$4.1m |
| Free cash flow | $748.7m | $557.2m | $361.6m | $322.9m | $233.1m | $217.6m | $132.3m | $76.6m | −$101.3m | −$110.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $959.0m | $814.5m | $805.5m | $794.9m | $687.5m | $572.6m | $627.7m | $622.1m |
| Gross profit | $935.8m | $800.7m | $787.9m | $780.9m | $676.2m | $563.4m | $618.4m | $614.1m |
| Operating income | $155.9m | $186.0m | $210.9m | $239.0m | $145.6m | $23.6m | $142.0m | $183.8m |
| Net income | $144.4m | $197.9m | $153.7m | $209.5m | $107.5m | $7.9m | $103.1m | $129.8m |
| Diluted earnings per share | 1.39 | 1.90 | 1.50 | 2.04 | 1.05 | 0.08 | 1.00 | 1.26 |
| Cash from operations | $136.0m | $145.0m | $388.0m | $227.0m | $102.0m | $64.0m | $242.0m | $158.0m |
| Capital spending | −$7.0m | −$9.0m | −$2.0m | −$13.0m | −$12.0m | −$10.0m | −$7.0m | −$8.0m |
| Free cash flow | $129.0m | $136.0m | $386.0m | $214.0m | $90.0m | $54.0m | $235.0m | $150.0m |
| Total assets | $5.36bn | $4.91bn | $4.63bn | $4.27bn | $3.89bn | $3.69bn | $3.72bn | $3.54bn |
| Cash and short-term investments | $389.8m | $1.32bn | $1.48bn | $1.11bn | $975.6m | $943.5m | $1.08bn | $1.23bn |
| Debt | — | — | — | $51.3m | — | — | — | $34.8m |
| Shareholders' equity | $3.69bn | $3.41bn | $3.25bn | $3.00bn | $2.69bn | $2.54bn | $2.59bn | $2.72bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 98.2% | 98.6% | 97.9% | 98.4% | 98.7% | 99.0% | — | — |
| Operating margin | 21.6% | 24.2% | 20.9% | 16.7% | 9.0% | 15.6% | — | — |
| Net margin | 16.7% | 14.5% | 13.2% | 10.4% | 7.9% | 38.9% | — | — |
| Return on equity | 14.7% | 13.2% | 11.2% | 9.0% | 6.5% | 36.2% | — | — |
| Return on assets | 10.3% | 9.2% | 7.7% | 6.5% | 4.3% | 23.5% | — | — |
| Free cash flow yield | 5.6% | 4.3% | 2.9% | 2.5% | 2.1% | 1.7% | — | — |
| Revenue growth | 21.4% | 24.8% | 26.8% | 31.3% | 8.4% | 32.7% | — | — |
| Earnings growth | 40.2% | 36.7% | 61.6% | 72.4% | -78.0% | 1000.8% | — | — |
| Current ratio | 3.39x | 3.40x | 2.45x | 2.70x | 3.96x | 5.45x | — | — |
| Debt to equity | — | — | 0.08x | 0.10x | 0.26x | 0.29x | 1.28x | 0.94x |
| Equity ratio | 70.2% | 69.6% | 68.6% | 72.1% | 66.3% | 64.9% | — | — |
| Interest coverage | — | 4.51x | 85.83x | 35.07x | 3.97x | 4.97x | 2.26x | — |
| R&D as a share of sales | 35.5% | 31.0% | 29.9% | 31.2% | 28.9% | 26.3% | — | — |
| Buybacks as a share of market value | 0.4% | -0.6% | -1.5% | -6.2% | 2.4% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 24.3% | 22.3% | 64.5% |
| Operating income | 35.5% | 30.6% | — |
| Net income | 45.8% | 3.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 98.3% | 98.3% | 98.4% | 98.5% |
| Operating margin | 22.8% | 21.3% | 19.5% | 15.1% |
| Net margin | 15.7% | 14.2% | 16.0% | 11.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 30.4 | 41.1 | 54.0 | 77.9 | 90.2 | 22.9 | 282.4 | 323.8 | -50.4 | -23.8 |
| Price to sales | 5.1 | 6.0 | 7.1 | 8.1 | 7.1 | 8.9 | 13.3 | 15.2 | 44.5 | 224.1 |
Market value over time
31 Oct 2016 to 2 Oct 2026, in USD
$3.80bn$14.92bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 5% | 11% | 3% | 38% | -15% | -9% | 56% | -1% | 73% | -21% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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