Etsy, Inc. logo ETSY - Etsy, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 22
HOLD 20
SELL 3
STRONG
SELL
0
| PRICE TARGET: $70.24 DETAILS
HIGH: $85.00
LOW: $55.00
MEDIAN: $72.00
CONSENSUS: $70.24
UPSIDE: 12.60%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Revenue
Revenue 631.3 881.6 678.0 672.7 612.2 852.2 662.4 647.8 646.0 842.3 636.3 628.9 640.9 807.2 594.5 585.1 579.3 717.1 532.4 528.9 550.6 617.4 451.5 428.7 228.1 270.0 197.9 181.1 169.3 200.0 150.4 132.4 120.9 136.3 106.4 101.7 96.9 110.2 87.6 85.3 81.8 87.9 65.7 61.4 58.5 64.9 47.6 42.5 40.5 41.6 30.0 27.4 26.8
Cost of Revenue 175.7 237.5 194.6 193.5 167.8 217.7 185.6 184.1 187.1 255.8 188.8 188.6 195.5 225.8 174.4 171.4 173.0 209.0 153.7 149.0 142.9 150.8 120.2 111.4 82.4 90.8 68.9 58.6 52.7 57.1 46.9 45.4 41.3 44.2 36.4 35.7 34.7 37.0 29.3 29.1 27.9 30.2 24.2 21.9 20.7 22.8 18.1 17.3 15.4 16.2 11.5 10.5 10.0
Gross Profit 455.6 644.1 483.4 479.1 444.4 634.5 476.8 463.7 458.8 586.6 447.5 440.2 445.4 581.5 420.1 413.7 406.3 508.2 378.8 379.9 407.7 466.6 331.3 317.4 145.6 179.2 129.0 122.5 116.7 142.9 103.4 87.0 79.6 92.0 70.0 66.0 62.2 73.2 58.2 56.3 53.9 57.7 41.5 39.5 37.8 42.1 29.5 25.2 25.1 25.3 18.4 16.9 16.7
Operating Expenses
R&D Expenses 99.1 114.4 113.4 111.9 100.8 111.5 107.3 114.5 109.8 117.5 113.9 122.0 115.9 112.8 108.0 102.1 89.5 82.6 73.5 61.8 53.7 51.2 45.9 45.2 37.8 35.7 32.5 28.8 24.9 28.5 24.4 23.6 20.7 17.8 17.0 21.8 18.1 16.1 14.9 11.8 12.2 11.2 11.4 10.1 10.0 9.7 10.1 8.8 8.0 14.1 7.0 6.8 8.4
SG&A Expenses 236.7 400.3 287.3 290.8 245.8 367.9 282.7 279.1 280.9 353.6 245.0 252.5 251.3 329.3 221.8 239.1 232.5 283.4 221.5 229.1 203.4 254.1 167.2 153.0 82.5 118.4 82.3 75.9 60.1 84.9 60.3 50.6 45.1 52.8 45.6 55.9 46.2 53.6 40.7 39.7 34.9 38.1 31.8 33.2 32.7 32.2 22.5 20.2 16.7 16.8 11.9 10.7 10.1
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 68.1 0 0 1,045.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 335.8 514.7 400.7 402.7 346.6 479.3 390.0 393.5 390.7 471.1 358.9 442.6 367.2 442.1 1,374.8 341.2 322.0 365.9 295.0 290.8 257.1 305.2 213.1 198.2 120.3 154.1 114.8 104.6 85.0 113.4 84.7 74.2 65.8 73.8 62.6 77.7 64.3 69.8 55.6 51.6 47.2 49.3 43.2 43.2 42.7 42.0 32.6 29.0 24.7 23.9 19.1 17.6 17.0
Operating Income
Operating Income 119.8 129.4 82.7 76.4 97.8 155.1 86.8 70.2 68.1 115.5 88.6 (2.4) 78.2 139.3 (954.8) 72.6 84.3 142.2 83.7 89.1 150.6 161.3 118.2 119.1 25.4 25.0 14.2 17.8 31.6 29.5 18.7 12.8 13.8 18.3 7.4 (11.7) (2.1) 3.5 2.7 4.7 6.8 8.4 (1.7) (3.8) (4.8) 0.2 (3.1) (3.8) 0.4 1.5 (0.5) (0.5) (0.1)
Interest Expense 0 5.6 5.7 3.8 0 0 0 3.5 0 0 0 0 0 0 0 0 0 3.5 2.8 1.9 1.7 11.4 10.6 10.0 10.0 9.9 5.1 4.7 4.7 6.2 6.1 6.1 3.8 2.9 2.9 2.7 2.6 2.4 2.4 1.8 0.5 0.5 0.5 0.4 0.2 0.2 0.2 0.1 0.1 0 0 0 0
Interest Income 0 12.9 14.3 9.0 0 0 0 7.4 0 0 0 0 0 0 0 0 0 0.2 0.1 0.8 1.0 0.6 1.2 1.7 3.6 3.5 2.9 3.4 3.4 3.1 2.4 2.4 1.1 0.8 0.7 0.5 0.4 0.4 0.4 0.5 0.4 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1
Profitability
EBITDA 135.2 167.3 122.0 90.4 115.0 225.9 114.6 109.5 94.9 97.4 110.7 88.7 101.4 (872.1) 114.4 97.6 109.1 172.9 107.0 102.1 163.7 177.8 116.8 136.5 34.8 47.9 28.0 30.9 46.2 36.7 27.2 17.1 23.1 27.8 23.2 11.6 8.1 (7.3) 10.2 3.9 20.1 7.1 2.7 3.6 (21.3) 2.7 0.4 0.7 3.7 3.3 0.9 0.9 1.3
EBIT 119.8 142.4 97.8 54.9 97.8 199.5 86.8 82.4 68.1 74.4 88.6 65.7 78.2 (894.9) 90.2 72.6 84.3 147.9 83.7 89.1 150.6 164.7 101.0 122.3 19.7 32.7 15.2 21.0 36.1 29.0 20.7 10.8 16.7 21.2 16.1 4.9 1.1 (14.2) 4.4 (1.2) 15.3 2.6 (2.3) (1.1) (25.7) (2.0) (4.0) (3.4) (0.2) 1.5 (0.5) (0.5) (0.1)
Income Before Tax 129.3 136.8 92.1 51.1 (14.6) 178.3 73.8 79.0 79.7 109.2 97.0 5.4 81.3 127.9 (949.0) 73.2 86.0 144.4 83.8 85.8 157.7 153.3 90.4 112.3 9.7 22.8 10.1 16.4 31.4 22.9 14.6 4.6 13.0 18.3 13.2 2.2 (1.5) (16.6) 2.0 (3.0) 14.8 2.1 (2.8) (1.4) (25.9) (2.3) (4.2) (3.6) (0.2) 1.3 (0.7) (0.8) (0.3)
Income Tax Expense 24.6 26.0 16.6 22.3 20.5 48.4 16.4 26.0 16.7 25.9 9.1 (56.5) 6.7 18.3 14.1 0.0 (0.1) (17.2) (6.1) (12.5) 14.0 4.8 (1.4) 15.9 (2.8) (8.5) (4.7) (1.9) (0.1) (18.4) (5.3) 1.2 0.0 (26.5) (12.6) (9.4) (1.1) 4.8 4.4 4.3 13.6 6.3 4.1 4.9 10.7 3.1 2.1 (0.4) 0.2 4.1 (1.9) (1.9) 0.7
Net Income 69.7 110.7 75.5 28.8 (52.1) 129.9 57.4 53.0 63.0 83.3 87.8 61.9 74.5 109.5 (963.1) 73.1 86.1 161.6 89.9 98.3 143.8 148.5 91.8 96.4 12.5 31.3 14.8 18.2 31.6 41.3 19.9 3.4 13.0 44.8 25.8 11.7 (0.4) (21.4) (2.4) (7.3) 1.2 (4.2) (6.9) (6.4) (36.6) (5.4) (6.3) (3.2) (0.5) (2.8) 1.2 1.1 0.2
Per Share Data
EPS (Basic) 0.72 1.13 0.76 0.28 -0.49 1.16 0.52 0.46 0.53 0.70 0.72 0.50 0.61 0.87 -7.62 0.51 0.60 1.27 0.71 0.77 1.14 1.18 0.75 0.81 0.11 0.26 0.12 0.15 0.26 0.34 0.17 0.03 0.11 0.37 0.22 0.10 -0.00 -0.19 -0.02 -0.06 0.01 -0.04 -0.06 -0.07 -0.33 -0.06 -0.07 -0.03 -0.00 -0.09 0.04 0.03 0.00
EPS (Diluted) 0.60 0.96 0.63 0.25 -0.49 1.01 0.45 0.41 0.48 0.62 0.64 0.45 0.53 0.76 -7.62 0.50 0.59 1.11 0.62 0.68 1.00 1.08 0.70 0.75 0.10 0.25 0.12 0.14 0.24 0.32 0.15 0.03 0.10 0.36 0.21 0.10 -0.00 -0.19 -0.02 -0.06 0.01 -0.04 -0.06 -0.07 -0.33 -0.06 -0.07 -0.03 -0.00 -0.09 0.04 0.03 0.00
Shares Outstanding 96.2 98.2 99.3 103.2 107.1 114.9 114.2 116.4 118.4 119.6 121.8 123.5 124.3 125.7 126.3 142.6 144.0 127.1 126.6 127.0 126.2 126.0 122.0 118.9 118.1 118.4 120.4 120.2 119.7 120.2 119.9 119.5 121.3 121.6 119.6 116.9 115.7 115.3 113.8 113.0 118.5 111.7 111.3 96.5 111.0 93.7 93.7 93.7 93.7 32.9 32.6 37.4 37.4
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 1,214.4 1,395.8 1,248.9 1,183.4 649.2 811.2 818.9 759.2 788.8 914.3 742.0 841.5 786.8 921.3 790.0 758.9 756.2 780.2 619.4 2,053.9 1,163.7 1,244.1 1,145.0 677.5 442.4 443.3 671.8 359.2 345.7 367.0 362.7 357.8 533.9 315.4 260.3 226.9 194.8 181.6 188.0 167.5 158.4
Short-Term Investments 211.4 224.1 259.2 229.0 218.5 228.3 226.0 240.7 254.9 236.1 234.9 235.3 252.7 250.4 251.2 247.8 226.0 204.4 197.4 430.7 502.6 425.1 379.6 365.7 361.6 374.0 180.2 274.7 276.4 257.3 221.4 209.7 67.5 25.1 50.4 60.4 81.1 100.5 82.3 110.7 111.3
Net Receivables 194.6 213.7 175.6 147.1 171.0 198.3 181.2 249.8 256.1 290.1 241.4 243.7 228.6 261.8 217.3 200.7 211.8 247.5 191.6 156.7 181.1 169.4 129.7 120.4 66.9 65.2 50.0 75.2 75.0 33.3 99.9 80.2 79.9 78.3 72.4 60.1 59.4 56.2 55.1 42.5 44.7
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 492.5 127.4 109.8 88.6 71.3 89.9 94.5 109.3 104.6 129.9 125.6 93.2 76.9 80.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17.1 17.1 17.1 17.1
Total Current Assets 2,112.8 1,961.0 1,793.6 1,648.0 1,110.0 1,327.7 1,320.7 1,359.0 1,404.4 1,570.4 1,343.9 1,413.8 1,344.9 1,513.7 1,352.1 1,320.2 1,295.1 1,341.5 1,077.3 2,691.0 1,893.6 1,894.8 1,697.8 1,194.3 907.0 921.0 945.8 743.7 724.0 680.3 707.9 666.2 705.0 439.3 400.4 376.2 355.2 371.0 353.4 346.8 340.6
Non-Current Assets
Property, Plant & Equipment 202.4 229.2 231.8 230.2 237.8 236.7 242.9 238.8 241.9 249.8 245.8 243.1 248.4 249.7 249.9 261.7 271.3 275.1 198.9 105.8 108.0 112.5 118.1 126.2 134.5 144.9 153.3 128.4 131.7 120.2 119.2 117.0 116.4 117.6 124.5 129.1 127.2 126.4 123.7 125.8 116.5
Goodwill 37.6 38.1 38.1 38.1 36.2 137.1 138.6 137.7 137.9 138.4 137.5 138.1 138.1 137.7 135.9 1,269.2 1,364.4 1,371.1 1,385.2 140.0 139.7 140.8 139.7 138.8 138.3 138.7 138.5 37.3 37.0 37.5 37.8 38.0 39.2 38.5 38.2 37.4 36.0 35.7 37.8 28.1 28.6
Intangible Assets 13.2 297.4 304.1 317.0 413.9 413.9 443.9 435.7 444.8 457.1 452.9 474.2 534.5 535.4 517.0 550.9 595.3 607.2 613.1 178.9 182.3 187.4 189.1 191.7 194.9 199.2 202.1 33.1 33.8 34.6 36.4 38.1 3.5 4.1 4.7 5.3 6.1 7.5 8.8 1.9 2.4
Long-Term Investments 150.6 134.4 108.3 126.6 129.5 111.7 107.0 93.5 84.4 86.7 76.6 74.0 57.0 29.1 32.1 46.9 61.6 85.0 90.3 102.8 137.7 39.1 36.7 73.1 94.1 89.3 4.8 25.4 0 0 0 0 0 (0.2) 0 0 0 0 0 0 12.1
Other Non-Current Assets 49.8 48.0 42.6 41.1 44.7 45.0 44.6 45.6 43.2 45.2 46.2 55.1 49.0 47.7 48.1 52.8 54.4 56.1 33.4 25.8 28.4 29.7 31.2 29.6 33.7 34.9 32.4 30.5 31.6 5.8 6.0 6.0 6.1 5.9 6.2 6.3 6.3 6.3 6.4 6.3 7.1
Total Non-Current Assets 568.2 866.3 859.2 909.1 1,010.8 1,090.1 1,121.5 1,089.1 1,093.3 1,115.0 1,105.3 1,155.0 1,155.6 1,121.2 1,098.2 2,286.9 2,450.0 2,490.3 2,424.8 599.4 603.8 509.7 516.7 567.7 610.7 621.3 553.4 278.1 257.2 221.6 199.4 199.1 165.2 166.3 173.7 178.1 175.5 210.2 215.8 204.2 208.6
Total Assets 2,681.1 2,827.3 2,652.8 2,557.1 2,120.8 2,417.8 2,442.2 2,448.1 2,497.7 2,685.4 2,449.2 2,568.8 2,500.5 2,635.0 2,450.3 3,607.1 3,745.2 3,831.8 3,502.1 3,290.4 2,497.4 2,404.5 2,214.5 1,762.0 1,517.6 1,542.4 1,499.2 1,021.8 981.2 901.9 907.4 865.3 870.2 605.6 574.1 554.3 530.7 581.2 569.2 551.0 549.2
Current Liabilities
Account Payables 201.3 233.8 177.5 155.8 179.4 215.5 192.2 252.6 249.7 29.9 236.1 236.1 222.3 28.8 212.3 198.5 206.9 28.0 181.0 163.1 174.5 40.9 135.5 119.8 65.7 26.3 60.9 6.5 17.3 26.5 14.1 14.8 8.1 13.6 7.2 7.6 6.4 11.0 7.3 30.5 39.0
Short-Term Debt 649.3 649.0 0 6.3 6.2 0 0 0 0 0 5.2 4.7 0 0 4.8 3.7 2.5 0 8.8 8.7 0 0 0 0 0 12.4 0 0 0 0 0 0 0 5.8 6.5 7.3 6.7 6.8 6.6 0 0
Deferred Revenue 30.3 27.0 25.6 23.6 22.3 19.2 17.1 15.8 13.9 14.6 15.0 14.4 14.5 14.0 12.2 11.9 12.5 12.3 12.5 12.3 12.3 11.3 10.5 9.2 8.2 7.6 7.4 8.0 7.8 7.5 7.2 6.4 6.5 6.3 6.3 5.8 5.8 5.6 5.6 5.2 5.0
Other Current Liabilities 369.6 453.8 119.1 93.1 189.0 124.9 104.2 85.8 74.5 564.3 329.5 316.2 54.6 506.2 355.5 311.1 309.4 492.6 335.2 260.7 293.0 272.1 230.8 200.0 92.4 80.7 86.1 103.3 86.6 37.2 66.1 52.5 52.2 45.9 44.6 37.1 32.9 29.5 31.5 3.0 4.4
Total Current Liabilities 1,250.6 1,363.6 565.1 486.4 519.1 665.1 553.0 564.5 565.1 710.8 548.8 503.2 499.1 631.8 497.2 449.9 483.2 615.6 471.0 407 427.0 454.7 340.9 279.6 158.8 188.5 154.7 166.5 148.7 112.1 128.9 113.5 106.6 102.5 94.1 88.3 81.2 84.0 77.6 74.5 77.4
Non-Current Liabilities
Long-Term Debt 91.9 2,371.0 2,980.6 2,979.0 2,289.1 2,288.1 2,287.0 2,285.9 2,284.9 2,283.8 2,282.8 2,281.7 2,280.7 2,279.6 2,278.6 2,277.5 2,276.5 2,275.4 2,274.4 2,273.3 1,302.3 1,062.3 1,054.6 803.2 794.1 785.1 776.1 284.0 280.2 276.5 272.8 269.1 265.4 0 5.2 6.2 0 0 0 0 0
Deferred Tax Liabilities 9.8 8.8 5.3 5.4 7.4 8.0 7.1 8.8 11.0 13.2 25.5 29.0 44.4 44.7 62.2 68.6 77.0 79.5 94.2 0.0 0.0 58.5 63.4 66.3 63.1 64.5 83.1 32.6 32.6 30.5 30.9 32.3 32.3 23.8 40.6 65.0 65.0 65.1 62.9 61.4 61.4
Other Non-Current Liabilities 2,465.7 50.7 120.5 120.7 123.5 122.0 124.4 127.3 122.3 121.7 113.5 116.4 112.4 120.4 112.2 122.5 122.7 122.4 90.3 38.3 41.2 24.4 41.7 39.5 43.2 21.6 17.4 17.3 17.2 19.9 17.4 17.5 18.1 18.3 20.8 19.6 25.3 24.7 23.7 22.8 22.3
Total Non-Current Liabilities 2,567.4 2,561.7 3,200.3 3,195.4 2,512.0 2,511.5 2,513.5 2,518.6 2,516.3 2,518.3 2,522.9 2,529.7 2,541.6 2,550.5 2,559.3 2,575.9 2,585.1 2,587.6 2,497.5 2,352.7 1,386.6 1,207.4 1,206.9 958.3 951.9 947.2 955.2 413.0 412.5 388.9 383.8 381.7 379.1 106.2 131.8 157.7 154.5 152.4 147.2 143.4 142.3
Total Liabilities 3,817.9 3,925.3 3,765.4 3,681.7 3,031.1 3,176.6 3,066.5 3,083.1 3,081.4 3,229.1 3,071.7 3,032.9 3,040.7 3,182.2 3,056.6 3,025.8 3,068.3 3,203.2 2,968.5 2,759.7 1,813.6 1,662.1 1,547.8 1,237.9 1,110.8 1,135.7 1,109.9 579.5 561.2 501.0 512.7 495.2 485.7 208.7 225.8 246.0 235.7 236.4 224.7 217.9 219.6
Stockholders' Equity
Common Stock 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Retained Earnings (2,480.7) (2,404.0) (2,380.7) (2,335.8) (2,027.0) (1,784.0) (1,652.3) (1,552.6) (1,454.1) (1,357.4) (1,347.2) (1,135.4) (1,156.1) (1,048.3) (1,007.4) 106.2 95.3 71.7 (21.5) (57.0) 24.8 (146.8) (217.9) (143.5) (239.9) (227.4) (236.5) (124.0) (142.2) (153.4) (149.7) (169.6) (151.9) (96.3) (130.7) (156.5) (168.2) (116.3) (95.0) (92.6) (85.2)
Accumulated Other Comprehensive Income (240.1) (226.4) (226.2) (220.0) (268.5) (297.7) (242.5) (285.8) (281.6) (267.5) (303.8) (286.6) (297.8) (314.2) (372.9) (237.1) (91.0) (75.0) (69.4) (2.6) (5.4) 6.0 (1.9) (7.7) (10.7) (8.7) (11.5) (7.4) (8.8) (7.8) (7.1) (6.5) (6.3) (6.4) (4.1) 2.1 15.5 18.5 5.4 7.5 3.5
Total Stockholders' Equity (1,136.9) (1,098.1) (1,112.6) (1,124.6) (910.3) (758.9) (624.3) (635.0) (583.8) (543.7) (622.5) (464.2) (540.2) (547.3) (606.2) 581.3 676.9 628.6 533.6 530.8 683.8 742.4 666.7 524.2 406.8 406.6 389.3 442.3 420.0 400.9 394.6 370.1 384.5 396.9 348.2 308.3 295.0 344.8 344.5 333.0 329.5
Total Liabilities & Equity 2,681.1 2,827.3 2,652.8 2,557.1 2,120.8 2,417.8 2,442.2 2,448.1 2,497.7 2,685.4 2,449.2 2,568.8 2,500.5 2,635.0 2,450.3 3,607.1 3,745.2 3,831.8 3,502.1 3,290.4 2,497.4 2,404.5 2,214.5 1,762.0 1,517.6 1,542.4 1,499.2 1,021.8 981.2 901.9 907.4 865.3 870.2 605.6 574.1 554.3 530.7 581.2 569.2 551.0 549.2
Debt Metrics
Total Debt 741.2 3,152.9 3,075.7 3,075.6 2,387.3 2,387.7 2,388.1 2,388.6 2,389.0 2,389.5 2,389.1 2,389.0 2,389.5 2,390.1 2,389.7 2,388.5 2,387.8 2,388.1 2,321.8 2,323.0 1,354.0 1,137.5 1,110.1 860.6 853.6 873.5 867.9 376.4 376.8 342.5 339.9 336.3 333.5 70.0 71.8 74.2 70.9 69.5 67.1 65.6 64.6
Net Debt (473.2) 1,757.0 1,826.7 1,892.2 1,738.1 1,576.5 1,569.2 1,629.4 1,600.2 1,475.2 1,647.1 1,547.5 1,602.7 1,468.8 1,599.8 1,629.6 1,631.6 1,607.9 1,702.4 269.1 190.3 (106.6) (34.9) 183.0 411.2 403.7 168.7 (8.4) 4.1 (24.5) (22.9) (21.5) (200.3) (245.5) (188.5) (152.7) (123.9) (112.1) (120.9) (101.9) (93.8)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 104.7 110.7 75.5 11.8 (35.1) 129.9 57.4 53.0 63.0 83.3 87.8 61.9 74.5 109.5 (963.1) 73.1 86.1 161.6 89.9 98.3 143.8 148.5 91.8 96.4 12.5 31.3 14.8 18.2 31.6 41.3 19.9 3.4 13.0 44.8 25.8 11.7 (0.4) (21.4) (2.4) (7.3) 1.2
Depreciation & Amortization 15.3 24.9 24.3 35.5 17.2 26.4 27.7 27.1 26.8 23.0 22.2 22.9 23.2 22.8 24.1 25.0 24.8 25.0 23.2 13.0 13.1 13.1 15.8 14.2 15.2 15.3 12.8 9.8 10.1 7.6 6.4 6.4 6.3 6.6 7.0 6.7 6.9 6.9 5.8 5.1 4.7
Stock-Based Compensation 53.0 63.4 60.8 64.4 56.2 68.2 69.3 74.7 70.7 68.5 70.1 77.3 68.7 64.4 52.9 64.4 49.3 49.9 42.3 27.4 20.4 17.4 17.1 16.7 13.8 13.3 12.1 10.8 8.1 14.2 8.9 8.6 6.5 6.0 7.5 8.2 4.9 4.3 4.1 4.3 3.2
Change in Working Capital (76.0) 99.9 32.1 (27.9) (104.8) 106.3 60.1 (1.4) (85.3) 110.6 14.0 (38.0) (110.3) 100.8 61.9 (31.4) (90.9) 66.9 (8.9) (6.7) (27.3) 52.7 32.8 68.7 (29.9) 20.7 3.9 7.5 (22.1) 51.0 (6.0) 13.9 0.4 27.5 3.6 (1.1) (8.2) 4.1 (3.2) 6.9 (8.3)
Other Non-Cash Items (22.9) 0.3 4.1 22.7 118.2 (15.1) 12.3 (3.2) (1.0) 14.5 2.1 70.8 8.5 23.6 1,041.7 (1.0) 0.9 (2.5) 2.0 7.8 1.7 15.5 29.4 14.2 20.9 6.5 8.1 5.3 3.9 6.0 4.5 8.8 (0.1) (1.7) (4.0) (13.2) 0.1 19.7 3.0 8.0 (8.5)
Operating Cash Flow 80.7 317.1 219.0 108.1 49.2 315.0 217.4 151.1 69.0 295.1 218.5 136.3 55.6 291.8 206.6 125.8 59.5 290.5 90.9 121.7 148.5 243.7 185.2 220.4 29.7 78.6 47.0 49.8 31.5 101.8 30.1 40.6 26.2 35.1 16.9 12.1 3.3 18.5 10.3 16.8 1.8
Investing Activities
Capital Expenditure (9.9) (9.2) (13.9) (19.4) (12.2) (10.5) (13.0) (10.3) (9.7) (12.6) (10.9) (8.2) (8.2) 0 (14.5) (8.0) (9.2) (10.9) (10.1) (5.2) (3.8) (3.0) (1.8) (0.4) (1.8) (3.1) (3.7) (4.3) (4.1) (6.4) (5.7) (5.2) (3.3) (1.2) (1.7) (3.5) (6.7) (5.2) (10.7) (18.9) (13.0)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (9.2) 0 0 0 0 0 0 0 0.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.6)
Purchases of Investments (84.5) (75.5) (53.5) (80.6) (117.0) (63.8) (74.1) (50.5) (142.4) (54.6) (90.7) (80.7) (116.9) (64.5) (72.2) (57.2) (76.4) (74.6) (74.9) 0 (269.0) (198.4) (119.7) (79.7) (101.5) (343.6) (12.8) (146.5) (158.9) (155.1) (125.0) (174.3) (59.8) (15.5) (17.3) (6.2) (23.2) (51.9) (0.4) 0.1 (108.3)
Sales/Maturities of Investments 81.0 85.3 43.4 74.0 110.2 58.0 78.1 58.2 127.0 47.9 90.3 82.3 89.0 70.0 83.2 48.9 75.5 71.6 321.2 106.1 91.7 149.3 140.4 96.8 109.4 65.8 129.5 124.9 141.0 120.5 114.0 33.0 17.4 40.8 27.2 27 42.3 33.6 27.3 12.9 6.9
Other Investing Activities (11.6) (8.0) (9.8) 89.7 (10.7) (6.4) (8.8) (6.6) (7.5) 19.6 (7.0) (6.6) (6.0) (20.6) (11.7) (5.6) (6.0) (0.1) (1,692.7) 0 0 (0.9) 0 0 0 (0.1) (273.3) 0 0 (0.2) 0 (35.3) 0 0 0 0 0 0 (7.9) 0 0.6
Investing Cash Flow (16.5) 0.6 (24.0) 76.2 (20.7) (16.3) (9.0) (2.6) (25.1) (19.3) (11.3) (6.6) (36.1) (0.1) (3.5) (16.3) (10.2) (23.1) (1,454.7) 100.8 (181.0) (53.0) 18.9 16.6 6.1 (280.1) (160.3) (26.0) (22.0) (41.2) (16.7) (181.8) (45.7) 24.0 8.2 17.2 12.4 (23.4) 8.3 (5.9) (114.4)
Financing Activities
Net Debt Issuance (1.6) (1.6) (1.5) 698.5 (1.5) (1.5) (1.5) (1.5) (1.5) (1.6) (1.6) (1.6) (1.6) (1.6) (1.6) (1.6) (1.6) (1.6) (2.4) 968.4 (29.7) (2.2) 510.7 (2.4) (2.6) (2.7) 647.3 (2.7) (2.7) (3.7) (3.7) (3.9) 340.0 (3.5) (5.2) (3.1) (1.8) (1.7) (1.6) (1.5) (1.4)
Stock Repurchased (145.2) (133.2) (119.8) (334.7) (189.2) (259.6) (155.6) (150.4) (158.3) (93.0) (296.9) (38.9) (148.2) (150.4) (150.6) (62.2) (62.6) (68.3) (54.4) (180) 0 (77.5) (166.2) 0 (25.0) (22.2) (127.3) 0 (27.5) (27.9) 0 (21.1) (68.6) (11.8) (2.9) (1.2) (0.8) (0.6) (0.5) (0.2) 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (13.9) (32.8) (15.0) (39.6) (17.0) (21.4) (10.5) (23.3) (3.1) (21.2) (6.1) (37.2) (8.7) (32.1) (3.6) (30.6) (8.1) (35.5) (10.3) (127.9) (9.6) (21.6) (85.5) (3.5) (5.1) (3.7) (91.2) (8.6) 0.9 (21.5) (1.8) (2.3) (37.6) 11.9 15.6 5.8 0.6 4.4 4.9 1.7 0.6
Financing Cash Flow (158.4) (165.3) (126.7) 326.9 (204.8) (282.4) (166.5) (175.2) (163.0) (115.7) (304.6) (77.7) (158.5) (184.1) (155.8) (94.4) (72.3) (105.4) (67.1) 664.7 (39.4) (101.3) 259.1 (5.8) (32.7) (28.6) 428.8 (11.3) (29.3) (53.0) (5.5) (27.3) 233.8 (3.4) 7.5 1.4 (2.0) 2.1 2.9 0.0 0.3
Cash Position
Net Change in Cash (100.9) 153.5 67.5 534.2 (162.0) (7.8) 59.7 (29.6) (125.5) 172.4 (104.9) 54.7 (134.5) 131.3 31.1 2.6 (24.0) 160.8 (1,434.5) 890.2 (80.4) 99.1 467.4 235.2 (0.9) (228.5) 312.6 13.5 (21.3) 4.3 4.9 (176.0) 218.4 55.2 33.4 32.1 13.2 (6.4) 20.5 9.1 (112.9)
Cash at Beginning 1,404.4 1,250.9 1,183.4 649.2 811.2 818.9 759.2 788.8 914.3 742.0 846.9 792.1 926.6 795.3 764.2 761.6 785.5 624.7 2,059.2 1,169.0 1,249.4 1,150.3 682.9 447.7 448.6 677.1 364.5 351.0 372.3 368.1 363.2 539.2 320.8 260.3 232.2 200.1 186.9 188.0 167.5 158.4 271.2
Cash at End 1,303.5 1,404.4 1,250.9 1,183.4 649.2 811.2 818.9 759.2 788.8 914.3 742.0 846.9 792.1 926.6 795.3 764.2 761.6 785.5 624.7 2,059.2 1,169.0 1,249.4 1,150.3 682.9 447.7 448.6 677.1 364.5 351.0 372.3 368.1 363.2 539.2 315.4 265.6 232.2 200.1 181.6 188.0 167.5 158.4
Free Cash Flow 70.9 307.9 205.1 88.8 37.0 304.5 204.4 140.8 59.3 282.5 207.6 128.0 47.4 292.7 192.1 117.8 50.3 279.5 80.8 116.4 144.7 240.6 183.4 220.0 27.8 75.4 43.3 45.5 27.4 95.4 24.4 35.4 22.9 33.9 15.2 8.6 (3.3) 13.4 (0.4) (2.1) (11.3)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Income Statement
Revenue 631.3 881.6 678.0 672.7 612.2 852.2 662.4 647.8 646.0 842.3 636.3 628.9 640.9 807.2 594.5 585.1 579.3 717.1 532.4 528.9 550.6 617.4 451.5 428.7 228.1 270.0 197.9 181.1 169.3 200.0 150.4 132.4 120.9 136.3 106.4 101.7 96.9 110.2 87.6 85.3 81.8 87.9 65.7 61.4 58.5 64.9 47.6 42.5 40.5 41.6 30.0 27.4 26.8
Gross Profit 455.6 644.1 483.4 479.1 444.4 634.5 476.8 463.7 458.8 586.6 447.5 440.2 445.4 581.5 420.1 413.7 406.3 508.2 378.8 379.9 407.7 466.6 331.3 317.4 145.6 179.2 129.0 122.5 116.7 142.9 103.4 87.0 79.6 92.0 70.0 66.0 62.2 73.2 58.2 56.3 53.9 57.7 41.5 39.5 37.8 42.1 29.5 25.2 25.1 25.3 18.4 16.9 16.7
Operating Income 119.8 129.4 82.7 76.4 97.8 155.1 86.8 70.2 68.1 115.5 88.6 (2.4) 78.2 139.3 (954.8) 72.6 84.3 142.2 83.7 89.1 150.6 161.3 118.2 119.1 25.4 25.0 14.2 17.8 31.6 29.5 18.7 12.8 13.8 18.3 7.4 (11.7) (2.1) 3.5 2.7 4.7 6.8 8.4 (1.7) (3.8) (4.8) 0.2 (3.1) (3.8) 0.4 1.5 (0.5) (0.5) (0.1)
Net Income 69.7 110.7 75.5 28.8 (52.1) 129.9 57.4 53.0 63.0 83.3 87.8 61.9 74.5 109.5 (963.1) 73.1 86.1 161.6 89.9 98.3 143.8 148.5 91.8 96.4 12.5 31.3 14.8 18.2 31.6 41.3 19.9 3.4 13.0 44.8 25.8 11.7 (0.4) (21.4) (2.4) (7.3) 1.2 (4.2) (6.9) (6.4) (36.6) (5.4) (6.3) (3.2) (0.5) (2.8) 1.2 1.1 0.2
EPS (Diluted) 0.60 0.96 0.63 0.25 -0.49 1.01 0.45 0.41 0.48 0.62 0.64 0.45 0.53 0.76 -7.62 0.50 0.59 1.11 0.62 0.68 1.00 1.08 0.70 0.75 0.10 0.25 0.12 0.14 0.24 0.32 0.15 0.03 0.10 0.36 0.21 0.10 -0.00 -0.19 -0.02 -0.06 0.01 -0.04 -0.06 -0.07 -0.33 -0.06 -0.07 -0.03 -0.00 -0.09 0.04 0.03 0.00
Balance Sheet
Cash & Equivalents 1,214.4 1,395.8 1,248.9 1,183.4 649.2 811.2 818.9 759.2 788.8 914.3 742.0 841.5 786.8 921.3 790.0 758.9 756.2 780.2 619.4 2,053.9 1,163.7 1,244.1 1,145.0 677.5 442.4 443.3 671.8 359.2 345.7 367.0 362.7 357.8 533.9 315.4 260.3 226.9 194.8 181.6 188.0 167.5 158.4
Total Assets 2,681.1 2,827.3 2,652.8 2,557.1 2,120.8 2,417.8 2,442.2 2,448.1 2,497.7 2,685.4 2,449.2 2,568.8 2,500.5 2,635.0 2,450.3 3,607.1 3,745.2 3,831.8 3,502.1 3,290.4 2,497.4 2,404.5 2,214.5 1,762.0 1,517.6 1,542.4 1,499.2 1,021.8 981.2 901.9 907.4 865.3 870.2 605.6 574.1 554.3 530.7 581.2 569.2 551.0 549.2
Total Debt 741.2 3,152.9 3,075.7 3,075.6 2,387.3 2,387.7 2,388.1 2,388.6 2,389.0 2,389.5 2,389.1 2,389.0 2,389.5 2,390.1 2,389.7 2,388.5 2,387.8 2,388.1 2,321.8 2,323.0 1,354.0 1,137.5 1,110.1 860.6 853.6 873.5 867.9 376.4 376.8 342.5 339.9 336.3 333.5 70.0 71.8 74.2 70.9 69.5 67.1 65.6 64.6
Stockholders' Equity (1,136.9) (1,098.1) (1,112.6) (1,124.6) (910.3) (758.9) (624.3) (635.0) (583.8) (543.7) (622.5) (464.2) (540.2) (547.3) (606.2) 581.3 676.9 628.6 533.6 530.8 683.8 742.4 666.7 524.2 406.8 406.6 389.3 442.3 420.0 400.9 394.6 370.1 384.5 396.9 348.2 308.3 295.0 344.8 344.5 333.0 329.5
Cash Flow
Operating Cash Flow 80.7 317.1 219.0 108.1 49.2 315.0 217.4 151.1 69.0 295.1 218.5 136.3 55.6 291.8 206.6 125.8 59.5 290.5 90.9 121.7 148.5 243.7 185.2 220.4 29.7 78.6 47.0 49.8 31.5 101.8 30.1 40.6 26.2 35.1 16.9 12.1 3.3 18.5 10.3 16.8 1.8
Capital Expenditure (9.9) (9.2) (13.9) (19.4) (12.2) (10.5) (13.0) (10.3) (9.7) (12.6) (10.9) (8.2) (8.2) 0 (14.5) (8.0) (9.2) (10.9) (10.1) (5.2) (3.8) (3.0) (1.8) (0.4) (1.8) (3.1) (3.7) (4.3) (4.1) (6.4) (5.7) (5.2) (3.3) (1.2) (1.7) (3.5) (6.7) (5.2) (10.7) (18.9) (13.0)
Free Cash Flow 70.9 307.9 205.1 88.8 37.0 304.5 204.4 140.8 59.3 282.5 207.6 128.0 47.4 292.7 192.1 117.8 50.3 279.5 80.8 116.4 144.7 240.6 183.4 220.0 27.8 75.4 43.3 45.5 27.4 95.4 24.4 35.4 22.9 33.9 15.2 8.6 (3.3) 13.4 (0.4) (2.1) (11.3)