The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/4Mixed
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.13.1%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$8.9B
PassShare count not growingNot diluting owners. Falling means buybacks.-11.0% in 3 years
Revenue
$67.6B
+4.3% vs prior year
5-year growth
+10.1%/yr
revenue, per year
Total debt
$30.7B
Current ratio
1.44x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 4
Revenue
$20.5B
+24.0% YoY
EPS
$7.77
vs $4.62
Op. margin
20.9%
+3.6 pts
Gross margin
37.8%
+3.0 pts
Free cash flow
$3.8B
Share count
-1.9%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
3
Normal week
1.4
vs normal
2.1x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady-0.2%
Institutions cut 0.2% from their holdings. 1804 bought, 1669 sold.
Shares held by institutions331.1M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-3.4%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.6x · $30.7B debt
Shares outstandingLatest reported
460M
Earnings reports
Last 12
Next reportIn 0 days (est.)Estimated from the same quarter last year
Results filedAug 4
Results filedApr 30
Results filedJan 29
Results filedOct 29, 2025
Results filedAug 5, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.