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 |
|---|---|
| FY2016, ended Dec 31, 2016 | $81.2B |
| FY2017, ended Dec 31, 2017 | $92.5B |
| FY2018, ended Dec 31, 2018 | $120B |
| FY2019, ended Dec 31, 2019 | $126B |
| FY2020, ended Dec 31, 2020 | $162B |
| FY2021, ended Dec 31, 2021 | $263B |
| FY2022, ended Dec 31, 2022 | $348B |
| FY2023, ended Dec 31, 2023 | $554B |
| FY2024, ended Dec 31, 2024 | $732B |
| FY2025, ended Dec 31, 2025 | $1.01T |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.13T |
Revenue
By fiscal year, then the trailing 12 months
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $21.2B |
| FY2017, ended Dec 31, 2017 | $20.0B |
| FY2018, ended Dec 31, 2018 | $21.5B |
| FY2019, ended Dec 31, 2019 | $22.3B |
| FY2020, ended Dec 31, 2020 | $24.5B |
| FY2021, ended Dec 31, 2021 | $28.3B |
| FY2022, ended Dec 31, 2022 | $28.5B |
| FY2023, ended Dec 31, 2023 | $34.1B |
| FY2024, ended Dec 31, 2024 | $45.0B |
| FY2025, ended Dec 31, 2025 | $65.2B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $79.7B |
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 |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $2.74B | $3.81B |
| FY2017, ended Dec 31, 2017 | −$204M | $4.54B |
| FY2018, ended Dec 31, 2018 | $3.23B | $4.31B |
| FY2019, ended Dec 31, 2019 | $8.32B | $3.80B |
| FY2020, ended Dec 31, 2020 | $6.19B | $5.11B |
| FY2021, ended Dec 31, 2021 | $5.58B | $6.06B |
| FY2022, ended Dec 31, 2022 | $6.24B | $5.73B |
| FY2023, ended Dec 31, 2023 | $5.24B | $792M |
| FY2024, ended Dec 31, 2024 | $10.6B | $3.76B |
| FY2025, ended Dec 31, 2025 | $20.6B | $8.97B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $26.7B | $18.2B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $4.58B |
| FY2017, ended Dec 31, 2017 | $6.54B |
| FY2018, ended Dec 31, 2018 | $7.32B |
| FY2019, ended Dec 31, 2019 | $2.34B |
| FY2020, ended Dec 31, 2020 | $3.66B |
| FY2021, ended Dec 31, 2021 | $3.82B |
| FY2022, ended Dec 31, 2022 | $2.07B |
| FY2023, ended Dec 31, 2023 | $2.82B |
| FY2024, ended Dec 31, 2024 | $3.27B |
| FY2025, ended Dec 31, 2025 | $7.27B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $8.95B |
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 |
|---|---|
| FY2016, ended Dec 31, 2016 | $10.3B |
| FY2017, ended Dec 31, 2017 | $13.6B |
| FY2018, ended Dec 31, 2018 | $10.3B |
| FY2019, ended Dec 31, 2019 | $15.1B |
| FY2020, ended Dec 31, 2020 | $16.3B |
| FY2021, ended Dec 31, 2021 | $16.7B |
| FY2022, ended Dec 31, 2022 | $16.3B |
| FY2023, ended Dec 31, 2023 | $25.3B |
| FY2024, ended Dec 31, 2024 | $33.8B |
| FY2025, ended Dec 31, 2025 | $42.5B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $54.9B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 14.7% since FY16.
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 1.10B |
| FY2017, ended Dec 31, 2017 | 1.10B |
| FY2018, ended Dec 31, 2018 | 1.04B |
| FY2019, ended Dec 31, 2019 | 956M |
| FY2020, ended Dec 31, 2020 | 958M |
| FY2021, ended Dec 31, 2021 | 952M |
| FY2022, ended Dec 31, 2022 | 950M |
| FY2023, ended Dec 31, 2023 | 950M |
| FY2024, ended Dec 31, 2024 | 948M |
| FY2025, ended Dec 31, 2025 | 943M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 941M |
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 |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $600M | $255M |
| FY2017, ended Dec 31, 2017 | $300M | $281M |
| FY2018, ended Dec 31, 2018 | $4.15B | $280M |
| FY2019, ended Dec 31, 2019 | $4.40B | $312M |
| FY2020, ended Dec 31, 2020 | $500M | $308M |
| FY2021, ended Dec 31, 2021 | $1.25B | $343M |
| FY2022, ended Dec 31, 2022 | $1.50B | $371M |
| FY2023, ended Dec 31, 2023 | $750M | $629M |
| FY2024, ended Dec 31, 2024 | $2.50B | $646M |
| FY2025, ended Dec 31, 2025 | $4.11B | $626M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.17B | $649M |
Valuation
At current price- Market Cap
- $1.21T
- P/E
- 45.2×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 15.1×
- Price / Book
- 35.6×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $79.7B
- Revenue Growth YoY
- 49.6%
- Revenue CAGR 3Y
- 31.7%
- Revenue CAGR 5Y
- 21.6%
- EPS Growth YoY
- 94.7%
- Net Income Growth YoY
- 93.6%
Profitability
Trailing 12 months- Gross Margin
- 83.4%
- Operating Margin
- —
- Net Margin
- 33.5%
- FCF Margin
- 22.8%
- Return on Equity
- 102%
Earnings
Trailing 12 months- Net Income
- $26.7B
- EPS (diluted)
- $29.79
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $8.95B
- Total Debt
- $54.9B
- Net Debt
- $46.0B
- Total Assets
- $142B
- Total Liabilities
- $108B
- Shareholders' Equity
- $33.9B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $28.1B
- Capital Expenditure
- $9.89B
- Free Cash Flow
- $18.2B
Dividends and risk
Last 12 months- Dividend Yield
- 0.5%
- Dividend / Share
- $6.69
- Beta (5Y)
- 0.45
Every ratio is calculated from the company’s reported figures.