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Vipshop Holdings Ltd

VIPS

$15.68 ▲ +0.27 (+1.75%) at close

17 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Good

Bullish

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Analytical Summary

Vipshop Holdings Ltd shows strong fundamentals with top-quartile Return on Common Equity (%) and Debt to Equity. The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap $1.6B

Dividend Yield —

Revenue Growth 2.0% ↗

Op. Margin 7.7% ↘

ROIC 15.7% ↘

FCF / Share $7.81 ↘

Trailing P/E 1.5x

Price / Book 0.3x

FCF Yield 49.8%

Debt / Equity 0.14

info Valuation on last close. End-of-day price, Aug 7, 2026.

17-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$15.15B

↑ +2.0% —

Net Income Profit after all expenses

$1.04B

↓ -3.6% —

Operating Margin Operating profit as % of sales

7.7%

↓ -9.2% 51th

FCF / Share Free cash flow per share

$7.81

↓ -5.5% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)
Return on Common Equity (%)Return on Common Equity (%) is in the top quartile

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Profitability ↑

Returns ↑

Financial Health →

Cash Quality ↓

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Revenue Growth YoY (%)	2.0% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-72%)	-6.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-194%)	6.3% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-10%)	-18.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-365%)	17.7% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+152%)	16.9% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+141%)	8.7% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+24%)	9.7% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+39%)	37.5% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+436%)	31.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+348%)	64.5% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+821%)	122.4% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1649%)	145.1% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1973%)	204.7% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2824%)	597.1% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+8431%)	—	—
EPS Growth YoY (%)	3.5% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	-3.2% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	43.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	33.2% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	-19.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	55.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	84.6% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-8.2% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	0.8% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	—	—	—	N/M	96.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-1777.8% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-3.6% Weak ↓ Weak Declining Year-over-year change in net income	-7.0% Weak ↓ Weak Declining Year-over-year change in net income	26.2% Excellent ↑ Excellent Improving Year-over-year change in net income	24.3% Good ↓ Good Declining Year-over-year change in net income	-18.8% Weak ↓ Weak Declining Year-over-year change in net income	58.4% Excellent ↑ Excellent Improving Year-over-year change in net income	84.5% Excellent ↑ Excellent Improving Year-over-year change in net income	6.7% Fair ↓ Fair Declining Year-over-year change in net income	1.3% Caution ↓ Caution Declining Year-over-year change in net income	23.2% Good ↓ Good Declining Year-over-year change in net income	89.7% Excellent ↓ Excellent Declining Year-over-year change in net income	134.8% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	91.2% Excellent Excellent Year-over-year change in net income	-1182.3% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-5.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	-46.9% Weak ↓ Weak Declining Year-over-year change in free cash flow	69.1% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	99.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-57.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	12.5% Fair Fair Year-over-year change in free cash flow	172.5% Excellent Excellent Year-over-year change in free cash flow	N/M	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	0.4% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-6.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.8% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	14.3% Good ↓ Good Declining Compound annual revenue growth over 3 years	11.7% Good ↓ Good Declining Compound annual revenue growth over 3 years	17.9% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	25.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	43.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	68.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	107.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	155.2% Excellent Excellent Compound annual revenue growth over 3 years	273.4% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	-0.6% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	2.1% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	5.3% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	5.9% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	17.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	20.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	28.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	48.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	74.5% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	104.6% Excellent Excellent Compound annual revenue growth over 5 years	185.7% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	13.0% Good ↓ Good Declining Compound annual EPS growth over 3 years	22.9% Excellent → Excellent Stable Compound annual EPS growth over 3 years	15.5% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	18.5% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	32.1% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	38.0% Excellent Excellent Compound annual EPS growth over 3 years	19.5% Excellent Excellent Compound annual EPS growth over 3 years	—	—	74.0% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—	—

💰 Are margins durable? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Operating Margin (%) (%)	7.7% Caution → Caution Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-36%)	8.5% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-29%)	8.1% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-33%)	6.0% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-50%)	4.8% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-60%)	5.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-52%)	5.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	2.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	3.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	4.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-60%)	5.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	3.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-70%)	3.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-74%)	-1.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-114%)	-47.1% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-492%)	-25.7% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-314%)	—
Profit Margin (%) (%)	6.8% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-15%)	7.2% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-10%)	7.3% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-9%)	6.1% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-24%)	4.0% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-50%)	5.8% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-27%)	4.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-46%)	2.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-68%)	2.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-68%)	3.5% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-56%)	3.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-53%)	3.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-59%)	3.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-61%)	-1.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	-47.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-690%)	-25.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-421%)	—
FCF Margin (%) (%)	5.2% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.9% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	10.9% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	7.8% Caution → Caution Stable Free cash flow as a percentage of revenue Optimal: > 10%	3.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	9.4% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	9.7% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	3.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-1.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—	—	—
FCF / Net Income (x)	0.76x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.82x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.49x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.28x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	0.85x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.62x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.25x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.51x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-0.64x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	—	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Return on Invested Capital (%)	15.7% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	18.1% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	19.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	14.9% Good → Good Stable Return earned on debt + equity capital invested Optimal: > 10%	13.5% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	16.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	17.2% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	11.1% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	14.9% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	37.3% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	46.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	26.1% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	17.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-11.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-461.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	65.4% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	10.3% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	12.2% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	12.6% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	9.5% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	9.0% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	9.9% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	9.8% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	5.6% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.1% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	10.8% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	10.3% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	5.0% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	5.0% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	-3.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	-63.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	17.7% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-12%)	19.6% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	22.2% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+11%)	19.3% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	14.4% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-28%)	20.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	18.3% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-9%)	12.4% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-38%)	13.2% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-34%)	34.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+74%)	42.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+113%)	29.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+49%)	21.5% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+7%)	-11.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-157%)	—	82.7% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+314%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Debt to Equity (x)	0.14x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-82%)	0.06x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	0.04x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-95%)	0.08x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-90%)	0.06x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	0.04x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-95%)	0.05x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-93%)	0.08x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-90%)	0.06x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	—	0.03x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	—	—	—	—	—	—
Interest Coverage (x)	90.36x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	159.04x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	396.99x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	255.49x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	386.07x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	87.00x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	55.50x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	15.16x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	32.64x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	31.78x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	24.14x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	11.08x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	—	-53.59x Weak Weak Operating income divided by interest expense Optimal: > 5x	-216.21x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—
Net Debt (USD)	$-2.45B	$-3.28B	$-3.38B	$-2.79B	$-2.25B	$-1.68B	$-777.91M	$-1.19B	$-1.39B	$-591.90M	$-498.53M	$-772.13M	$-334.72M	$-124.47M	$-44.95M	$-1.11M	$-287.72K
Debt / EBITDA (x)	0.60x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.23x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.14x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.36x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.30x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.15x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.21x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.42x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.27x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	0.04x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Revenue per Share (USD)	$151.35	$140.03	$143.60	$117.54	$134.89	$115.57	$100.04	$92.95	$95.33	$70.29	—	—	$15.57	$7.79	$4.91	$0.68	—
Basic EPS, GAAP (USD)	$10.35	$10.00	$10.33	$7.18	$5.39	$6.70	$4.32	$2.34	$2.55	$2.53	—	—	$0.48	$-0.11	$-3.38	$-0.18	—
Free Cash Flow per Share (USD)	$7.81	$8.27	$15.58	$9.22	$4.62	$10.87	$9.67	$3.55	$-1.59	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$58.59	$51.62	$47.03	$37.32	$37.60	$32.33	$23.48	$18.98	$18.69	$7.12	—	—	$2.18	$0.82	$0.40	$-0.21	—
Tangible Book Value per Share (USD)	$57.51	$50.65	$46.07	$36.46	$36.93	$31.66	$23.23	$18.58	$18.21	$6.66	—	—	$2.18	$0.82	$0.40	$-0.21	—
Basic Weighted Avg Shares (shares)	100.07M	106.07M	110.70M	127.24M	136.18M	135.08M	133.52M	132.27M	117.55M	115.96M	—	—	108.96M	88.85M	46.26M	47.77M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Working Capital (USD)	$1.24B	$1.08B	$976.98M	$755.14M	$1.11B	$705.60M	$-128.93M	$200.67M	$1.02B	$-374.00K	$-1.96M	$494.01M	$208.14M	$65.62M	$9.13M	—	—
LT Debt (USD)	—	—	—	—	—	—	$9.27M	—	—	—	—	—	—	—	—	—	—
Total Equity (USD)	$5.86B	$5.48B	$5.21B	$4.75B	$5.12B	$4.37B	$3.14B	$2.51B	$2.20B	$825.61M	$546.36M	$410.97M	$243.26M	$82.58M	$18.29M	$-10.11M	$-1.55M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Sales/Revenue/Turnover (USD)	$15.15B	$14.85B	$15.90B	$14.96B	$18.37B	$15.61B	$13.36B	$12.29B	$11.21B	$8.15B	$6.21B	$3.77B	$1.70B	$692.11M	$227.14M	$32.58M	—
Depreciation Expense (USD)	$218.28M	$194.33M	$183.01M	$178.52M	$172.14M	$148.67M	$119.28M	$112.03M	$110.79M	$88.00M	$44.98M	$17.95M	$8.84M	$4.53M	$1.37M	$103.19K	—
Net Income, GAAP (USD)	$1.04B	$1.07B	$1.16B	$915.13M	$736.41M	$907.18M	$572.62M	$310.30M	$290.86M	$287.02M	$232.91M	$122.79M	$52.30M	$-9.47M	$-107.27M	$-8.37M	—
Operating Cash Flow (USD)	$1.07B	$1.25B	$2.03B	$1.53B	$1.06B	$1.81B	$1.77B	$835.68M	$150.82M	—	—	—	—	—	—	—	—

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