Performance snapshot and trend interpretation (QQ1 2026 vs QQ1 2025):
- Revenue: $1,630,470,000; YoY +38.3%; QoQ +17.4%; Gross Profit: $282,647,000; Gross Margin 17.33%; YoY gross profit up 474.8% (significant base effects earlier year); Operating Income: $277,730,000; Margin 17.03%; YoY +531.8%; Net Income: $133,507,000; Margin 8.19%; YoY +1,478.2%; EPS: $0.6809; YoY +1,478.3%.
- EBITDA: $552,578,000; EBITDA Margin 33.89%.
- Balance sheet health: Cash & short-term investments of $3.398B; Total debt $7.295B; Net debt $6.418B; Equity $7.661B; Current ratio Γ’β°Λ 1.66x; Quick ratio Γ’β°Λ 3.85x.
- Cash flow: Net cash provided by operating activities $598.4M; Net change in cash -$111.6M; Free cash flow (as reported) $598.4M (note: capex not disclosed in the data).
- Leverage: Net debt to EBITDA ~11.6x and debt-to-assets ~34.9%; interest coverage ~6.7x, indicating strong EBITDA generation but elevated leverage given the asset-heavy model.