InsiderClue
Stocks · Real estate · Real Estate Investment Trusts

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PSA Clue Score37
United States Fiscal year ends December CIK 0001393311
$289.86 +1.52% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $289.86 −4.05% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.56Operating income1.37Net income1.45EPS, diluted6.81Fiscal year 2017Revenue2.67 +4.2%Operating income1.42Net income1.44 −0.8%EPS, diluted6.73 −1.2%Fiscal year 2018Revenue2.76 +3.4%Net income1.71 +18.6%EPS, diluted8.54 +26.9%Fiscal year 2019Revenue2.86 +3.5%Net income1.52 −11.1%EPS, diluted7.29 −14.6%Fiscal year 2020Revenue2.92 +2.1%Net income1.36 −10.7%EPS, diluted6.29 −13.7%Fiscal year 2021Revenue3.42 +17.2%Net income1.95 +43.9%EPS, diluted9.87 +56.9%Fiscal year 2022Revenue4.18 +22.4%Net income4.35 +122.7%EPS, diluted23.50 +138.1%Fiscal year 2023Revenue4.52 +8.0%Net income2.15 −50.6%EPS, diluted11.06 −52.9%Fiscal year 2024Revenue4.70 +3.9%Net income2.07 −3.6%EPS, diluted10.64 −3.8%Fiscal year 2025Revenue4.82 +2.7%Net income1.78 −13.9%EPS, diluted9.01 −15.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.56 2.67 2.76 2.86 2.92 3.42 4.18 4.52 4.70 4.82
Growth +4.2% +3.4% +3.5% +2.1% +17.2% +22.4% +8.0% +3.9% +2.7%
Operating income 1.37 1.42 n/a n/a n/a n/a n/a n/a n/a n/a
Net income 1.45 1.44 1.71 1.52 1.36 1.95 4.35 2.15 2.07 1.78
Growth −0.8% +18.6% −11.1% −10.7% +43.9% +122.7% −50.6% −3.6% −13.9%
EPS, diluted 6.81 6.73 8.54 7.29 6.29 9.87 23.50 11.06 10.64 9.01
Growth −1.2% +26.9% −14.6% −13.7% +56.9% +138.1% −52.9% −3.8% −15.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin73.9%Operating margin53.7%Net margin56.8%Fiscal year 2017Gross margin73.5%Operating margin53.3%Net margin54.0%Fiscal year 2018Gross margin73.0%Net margin62.0%Fiscal year 2019Net margin53.3%Fiscal year 2020Net margin46.6%Fiscal year 2021Net margin57.2%Fiscal year 2022Net margin104.0%Fiscal year 2023Net margin47.6%Fiscal year 2024Net margin44.1%Fiscal year 2025Net margin37.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 73.9% 73.5% 73.0% n/a n/a n/a n/a n/a n/a n/a
Operating margin 53.7% 53.3% n/a n/a n/a n/a n/a n/a n/a n/a
Net margin 56.8% 54.0% 62.0% 53.3% 46.6% 57.2% 104.0% 47.6% 44.1% 37.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow1.95Fiscal year 2017Operating cash flow1.97Fiscal year 2018Operating cash flow2.06Fiscal year 2019Operating cash flow2.07Fiscal year 2020Operating cash flow2.04Fiscal year 2021Operating cash flow2.54Fiscal year 2022Operating cash flow3.12Buybacks0.00Fiscal year 2023Operating cash flow3.25Buybacks0.00Fiscal year 2024Operating cash flow3.13Buybacks−0.20Fiscal year 2025Operating cash flow3.19Buybacks0.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.95 1.97 2.06 2.07 2.04 2.54 3.12 3.25 3.13 3.19
Buybacks n/a n/a n/a n/a n/a n/a 0.00 0.00 −0.20 0.00

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.18Total debt0.39Net cash (debt)−0.21Shareholders’ equity9.41Debt to equity0.04Fiscal year 2017Cash0.43Total debt1.43Net cash (debt)−1.00Shareholders’ equity8.94Debt to equity0.16Fiscal year 2018Cash0.36Total debt1.41Net cash (debt)−1.05Shareholders’ equity9.12Debt to equity0.15Fiscal year 2019Cash0.41Total debt1.90Net cash (debt)−1.49Shareholders’ equity9.06Debt to equity0.21Fiscal year 2020Cash0.26Total debt2.54Net cash (debt)−2.29Shareholders’ equity8.56Debt to equity0.30Fiscal year 2021Cash0.73Total debt7.48Net cash (debt)−6.74Shareholders’ equity9.34Debt to equity0.80Fiscal year 2022Cash0.78Total debt6.87Net cash (debt)−6.10Shareholders’ equity10.07Debt to equity0.68Fiscal year 2023Cash0.37Total debt9.10Net cash (debt)−8.73Shareholders’ equity10.01Debt to equity0.91Fiscal year 2024Cash0.45Total debt9.35Net cash (debt)−8.91Shareholders’ equity9.71Debt to equity0.96Fiscal year 2025Cash0.32Total debt10.25Net cash (debt)−9.94Shareholders’ equity9.25Debt to equity1.11
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.18 0.43 0.36 0.41 0.26 0.73 0.78 0.37 0.45 0.32
Total debt 0.39 1.43 1.41 1.90 2.54 7.48 6.87 9.10 9.35 10.25
Net cash (debt) −0.21 −1.00 −1.05 −1.49 −2.29 −6.74 −6.10 −8.73 −8.91 −9.94
Shareholders’ equity 9.41 8.94 9.12 9.06 8.56 9.34 10.07 10.01 9.71 9.25
Debt to equity 0.04 0.16 0.15 0.21 0.30 0.80 0.68 0.91 0.96 1.11

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2.56 2.67 2.76 2.86 2.92 3.42 4.18 4.52 4.70 4.82
Growth +4.2% +3.4% +3.5% +2.1% +17.2% +22.4% +8.0% +3.9% +2.7%
0.67 0.71 0.74 n/a n/a n/a n/a n/a n/a n/a
1.89 1.96 2.01 n/a n/a n/a n/a n/a n/a n/a
Growth +3.7% +2.8%
0.08 0.08 0.10 0.06 0.08 0.08 0.07 0.08 0.11 0.11
1.37 1.42 n/a n/a n/a n/a n/a n/a n/a n/a
Growth +3.5%
n/a n/a n/a n/a n/a 1.97 4.38 2.17 2.09 1.79
0.00 0.00 n/a n/a n/a 0.01 0.01 0.01 0.00 −0.01
1.45 1.44 1.71 1.52 1.36 1.95 4.35 2.15 2.07 1.78
Growth −0.8% +18.6% −11.1% −10.7% +43.9% +122.7% −50.6% −3.6% −13.9%
Per share
6.84 6.75 8.56 7.30 6.29 9.91 23.64 11.11 10.68 9.04
6.81 6.73 8.54 7.29 6.29 9.87 23.50 11.06 10.64 9.01
Growth −1.2% +26.9% −14.6% −13.7% +56.9% +138.1% −52.9% −3.8% −15.3%
173.1 173.6 174.0 174.3 174.5 174.9 175.3 175.5 175.4 175.4
173.9 174.2 174.3 174.5 174.6 175.6 176.3 176.1 176.0 175.9
Growth +0.2% +0.1% +0.1% +0.1% +0.5% +0.4% −0.1% −0.1% −0.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.6% a year over five years, and earnings per share grew 7.5% a year.
  • The share count barely moved in five years.
  • Profitable in every one of the 10 years on file.