Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.
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| Period | Market cap |
|---|---|
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | — |
| FY2021, ended Dec 31, 2021 | $55.4B |
| FY2022, ended Dec 31, 2022 | $8.19B |
| FY2023, ended Dec 31, 2023 | $42.1B |
| FY2024, ended Dec 31, 2024 | $63.0B |
| FY2025, ended Dec 31, 2025 | $59.7B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $38.6B |
Revenue
By fiscal year, then the trailing 12 months
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| Period | Revenue |
|---|---|
| FY2019, ended Dec 31, 2019 | $534M |
| FY2020, ended Dec 31, 2020 | $1.28B |
| FY2021, ended Dec 31, 2021 | $7.84B |
| FY2022, ended Dec 31, 2022 | $3.19B |
| FY2023, ended Dec 31, 2023 | $3.11B |
| FY2024, ended Dec 31, 2024 | $6.56B |
| FY2025, ended Dec 31, 2025 | $7.18B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.28B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.
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| Period | Net income | Free cash flow |
|---|---|---|
| FY2019, ended Dec 31, 2019 | −$30.4M | −$114M |
| FY2020, ended Dec 31, 2020 | $322M | $284M |
| FY2021, ended Dec 31, 2021 | $3.62B | $4.04B |
| FY2022, ended Dec 31, 2022 | −$2.62B | −$1.59B |
| FY2023, ended Dec 31, 2023 | $94.9M | $673M |
| FY2024, ended Dec 31, 2024 | $2.58B | — |
| FY2025, ended Dec 31, 2025 | $1.26B | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | −$988M | — |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2019, ended Dec 31, 2019 | $549M |
| FY2020, ended Dec 31, 2020 | $1.06B |
| FY2021, ended Dec 31, 2021 | $7.12B |
| FY2022, ended Dec 31, 2022 | $4.43B |
| FY2023, ended Dec 31, 2023 | $5.49B |
| FY2024, ended Dec 31, 2024 | $9.31B |
| FY2025, ended Dec 31, 2025 | $11.3B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $8.61B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.
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| Period | Total debt |
|---|---|
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | $0 |
| FY2021, ended Dec 31, 2021 | $3.40B |
| FY2022, ended Dec 31, 2022 | $3.41B |
| FY2023, ended Dec 31, 2023 | $2.98B |
| FY2024, ended Dec 31, 2024 | $4.61B |
| FY2025, ended Dec 31, 2025 | $7.65B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.44B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 330% since FY19.
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| Period | Shares outstanding |
|---|---|
| FY2019, ended Dec 31, 2019 | 61.3M |
| FY2020, ended Dec 31, 2020 | 91.2M |
| FY2021, ended Dec 31, 2021 | 219M |
| FY2022, ended Dec 31, 2022 | 231M |
| FY2023, ended Dec 31, 2023 | 242M |
| FY2024, ended Dec 31, 2024 | 254M |
| FY2025, ended Dec 31, 2025 | 264M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 264M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.
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| Period | Bought back | Paid to employees | Used in acquisitions |
|---|---|---|---|
| FY2019, ended Dec 31, 2019 | — | $31.1M | — |
| FY2020, ended Dec 31, 2020 | — | $70.5M | $31.3M |
| FY2021, ended Dec 31, 2021 | — | $821M | $545M |
| FY2022, ended Dec 31, 2022 | — | $1.57B | $314M |
| FY2023, ended Dec 31, 2023 | $0 | $781M | $11.3M |
| FY2024, ended Dec 31, 2024 | $0 | $913M | — |
| FY2025, ended Dec 31, 2025 | $790M | $839M | $3.68B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.03B | $939M | — |
Valuation
At current price- Market Cap
- $42.5B
- P/E
- n/m. Market cap / net income (TTM)
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 6.8×
- Price / Book
- 3.2×
- EV / EBITDA
- 46.2×
Growth
Trailing 12 months- Revenue (TTM)
- $6.28B
- Revenue Growth YoY
- −10.4%
- Revenue CAGR 3Y
- 31.0%
- Revenue CAGR 5Y
- 41.2%
- EPS Growth YoY
- −137%
- Net Income Growth YoY
- −135%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 9.9%
- Net Margin
- −15.7%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- −7.8%
Earnings
Trailing 12 months- Net Income
- −$988M
- EPS (diluted)
- −$3.79
- EBITDA
- $873M
- Operating Income
- $619M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $8.61B
- Total Debt
- $6.44B
- Net Cash
- $2.17B
- Total Assets
- $26.5B
- Total Liabilities
- $13.4B
- Shareholders' Equity
- $13.1B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.71B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 3.40
Every ratio is calculated from the company’s reported figures.