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 | $42.9B |
| FY2021, ended Dec 31, 2021 | $37.0B |
| FY2022, ended Dec 31, 2022 | $13.5B |
| FY2023, ended Dec 31, 2023 | $38.0B |
| FY2024, ended Dec 31, 2024 | $177B |
| FY2025, ended Dec 31, 2025 | $425B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $280B |
Revenue
By fiscal year, then the trailing 12 months
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| Period | Revenue |
|---|---|
| FY2018, ended Dec 31, 2018 | $595M |
| FY2019, ended Dec 31, 2019 | $743M |
| FY2020, ended Dec 31, 2020 | $1.09B |
| FY2021, ended Dec 31, 2021 | $1.54B |
| FY2022, ended Dec 31, 2022 | $1.91B |
| FY2023, ended Dec 31, 2023 | $2.23B |
| FY2024, ended Dec 31, 2024 | $2.87B |
| FY2025, ended Dec 31, 2025 | $4.48B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.16B |
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 | −$580M | −$52.0M |
| FY2019, ended Dec 31, 2019 | −$580M | −$178M |
| FY2020, ended Dec 31, 2020 | −$1.17B | −$309M |
| FY2021, ended Dec 31, 2021 | −$520M | $321M |
| FY2022, ended Dec 31, 2022 | −$374M | $184M |
| FY2023, ended Dec 31, 2023 | $210M | $697M |
| FY2024, ended Dec 31, 2024 | $462M | $1.14B |
| FY2025, ended Dec 31, 2025 | $1.63B | $2.10B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $3.02B | $3.36B |
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 | $1.12B |
| FY2019, ended Dec 31, 2019 | $1.08B |
| FY2020, ended Dec 31, 2020 | $2.01B |
| FY2021, ended Dec 31, 2021 | $2.29B |
| FY2022, ended Dec 31, 2022 | $2.60B |
| FY2023, ended Dec 31, 2023 | $831M |
| FY2024, ended Dec 31, 2024 | $2.10B |
| FY2025, ended Dec 31, 2025 | $1.42B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.03B |
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 | $396M |
| FY2020, ended Dec 31, 2020 | $198M |
| FY2021, ended Dec 31, 2021 | $0 |
| FY2022, ended Dec 31, 2022 | — |
| FY2023, ended Dec 31, 2023 | — |
| FY2024, ended Dec 31, 2024 | — |
| FY2025, ended Dec 31, 2025 | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | — |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 342% since FY18.
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| Period | Shares outstanding |
|---|---|
| FY2018, ended Dec 31, 2018 | 544M |
| FY2019, ended Dec 31, 2019 | 581M |
| FY2020, ended Dec 31, 2020 | 1.82B |
| FY2021, ended Dec 31, 2021 | 2.03B |
| FY2022, ended Dec 31, 2022 | 2.10B |
| FY2023, ended Dec 31, 2023 | 2.21B |
| FY2024, ended Dec 31, 2024 | 2.35B |
| FY2025, ended Dec 31, 2025 | 2.39B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 2.40B |
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 | Sold for cash |
|---|---|---|---|
| FY2018, ended Dec 31, 2018 | $7.71M | $249M | $96.5M |
| FY2019, ended Dec 31, 2019 | $11.2M | $242M | $544M |
| FY2020, ended Dec 31, 2020 | $3.78M | $1.27B | $199M |
| FY2021, ended Dec 31, 2021 | $0 | $778M | $0 |
| FY2022, ended Dec 31, 2022 | $0 | $565M | $0 |
| FY2023, ended Dec 31, 2023 | $0 | $476M | — |
| FY2024, ended Dec 31, 2024 | $64.2M | $692M | — |
| FY2025, ended Dec 31, 2025 | $75.0M | $684M | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | — | $836M | — |
Valuation
At current price- Market Cap
- $478B
- P/E
- 158×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 77.6×
- Price / Book
- 48.9×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $6.16B
- Revenue Growth YoY
- 78.9%
- Revenue CAGR 3Y
- 32.9%
- Revenue CAGR 5Y
- 32.6%
- EPS Growth YoY
- 290%
- Net Income Growth YoY
- 295%
Profitability
Trailing 12 months- Gross Margin
- 84.8%
- Operating Margin
- 42.8%
- Net Margin
- 49.0%
- FCF Margin
- 54.6%
- Return on Equity
- 38.4%
Earnings
Trailing 12 months- Net Income
- $3.02B
- EPS (diluted)
- $1.17
- EBITDA
- $2.66B
- Operating Income
- $2.63B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $2.03B
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $11.7B
- Total Liabilities
- $1.79B
- Shareholders' Equity
- $9.77B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $3.40B
- Capital Expenditure
- $42.0M
- Free Cash Flow
- $3.36B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.60
Every ratio is calculated from the company’s reported figures.