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 |
|---|---|
| FY2018, ended Dec 31, 2018 | — |
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | $45.9B |
| FY2021, ended Dec 31, 2021 | $51.9B |
| FY2022, ended Dec 31, 2022 | $19.1B |
| FY2023, ended Dec 31, 2023 | $40.0B |
| FY2024, ended Dec 31, 2024 | $70.5B |
| FY2025, ended Dec 31, 2025 | $98.4B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $80.0B |
Revenue
By fiscal year, then the trailing 12 months
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| Period | Revenue |
|---|---|
| FY2018, ended Dec 31, 2018 | $291M |
| FY2019, ended Dec 31, 2019 | $885M |
| FY2020, ended Dec 31, 2020 | $2.89B |
| FY2021, ended Dec 31, 2021 | $4.89B |
| FY2022, ended Dec 31, 2022 | $6.58B |
| FY2023, ended Dec 31, 2023 | $8.63B |
| FY2024, ended Dec 31, 2024 | $10.7B |
| FY2025, ended Dec 31, 2025 | $13.7B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $15.9B |
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 |
|---|---|---|
| FY2018, ended Dec 31, 2018 | −$204M | −$172M |
| FY2019, ended Dec 31, 2019 | −$667M | −$545M |
| FY2020, ended Dec 31, 2020 | −$461M | $146M |
| FY2021, ended Dec 31, 2021 | −$468M | $563M |
| FY2022, ended Dec 31, 2022 | −$1.36B | $191M |
| FY2023, ended Dec 31, 2023 | −$558M | $1.55B |
| FY2024, ended Dec 31, 2024 | $123M | $2.03B |
| FY2025, ended Dec 31, 2025 | $935M | $2.17B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $841M | $2.60B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2018, ended Dec 31, 2018 | $215M |
| FY2019, ended Dec 31, 2019 | $257M |
| FY2020, ended Dec 31, 2020 | $4.34B |
| FY2021, ended Dec 31, 2021 | $2.50B |
| FY2022, ended Dec 31, 2022 | $1.98B |
| FY2023, ended Dec 31, 2023 | $2.66B |
| FY2024, ended Dec 31, 2024 | $4.02B |
| FY2025, ended Dec 31, 2025 | $4.38B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $4.42B |
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 |
|---|---|
| FY2018, ended Dec 31, 2018 | — |
| FY2019, ended Dec 31, 2019 | $0 |
| FY2020, ended Dec 31, 2020 | $364M |
| FY2021, ended Dec 31, 2021 | $0 |
| FY2022, ended Dec 31, 2022 | — |
| FY2023, ended Dec 31, 2023 | — |
| FY2024, ended Dec 31, 2024 | $0 |
| FY2025, ended Dec 31, 2025 | $2.72B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.73B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 878% since FY18.
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| Period | Shares outstanding |
|---|---|
| FY2018, ended Dec 31, 2018 | 44.3M |
| FY2019, ended Dec 31, 2019 | 43.3M |
| FY2020, ended Dec 31, 2020 | 321M |
| FY2021, ended Dec 31, 2021 | 348M |
| FY2022, ended Dec 31, 2022 | 392M |
| FY2023, ended Dec 31, 2023 | 404M |
| FY2024, ended Dec 31, 2024 | 420M |
| FY2025, ended Dec 31, 2025 | 434M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 433M |
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 |
|---|---|---|---|
| FY2018, ended Dec 31, 2018 | $60.0M | $24.0M | — |
| FY2019, ended Dec 31, 2019 | $0 | $18.0M | — |
| FY2020, ended Dec 31, 2020 | $0 | $322M | — |
| FY2021, ended Dec 31, 2021 | $0 | $486M | — |
| FY2022, ended Dec 31, 2022 | $400M | $889M | $2.84B |
| FY2023, ended Dec 31, 2023 | $750M | $1.09B | — |
| FY2024, ended Dec 31, 2024 | $224M | $1.10B | — |
| FY2025, ended Dec 31, 2025 | $0 | $1.05B | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.05B | $1.11B | — |
Valuation
At current price- Market Cap
- $73.9B
- P/E
- 87.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 4.7×
- Price / Book
- 7.4×
- EV / EBITDA
- 42.2×
Growth
Trailing 12 months- Revenue (TTM)
- $15.9B
- Revenue Growth YoY
- 33.6%
- Revenue CAGR 3Y
- 27.7%
- Revenue CAGR 5Y
- 36.6%
- EPS Growth YoY
- 4.9%
- Net Income Growth YoY
- 7.7%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 4.5%
- Net Margin
- 5.3%
- FCF Margin
- 16.3%
- Return on Equity
- 8.9%
Earnings
Trailing 12 months- Net Income
- $841M
- EPS (diluted)
- $1.91
- EBITDA
- $1.71B
- Operating Income
- $712M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $4.42B
- Total Debt
- $2.73B
- Net Cash
- $1.70B
- Total Assets
- $19.6B
- Total Liabilities
- $9.63B
- Shareholders' Equity
- $9.92B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $2.83B
- Capital Expenditure
- $235M
- Free Cash Flow
- $2.60B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.89
Every ratio is calculated from the company’s reported figures.