| Ch. | Slide | Page | State |
|---|---|---|---|
| cover | 1 | complete | |
| agenda | 2 | complete | |
| 1 | Business & segments | 3 | complete |
| Segment mix & profit ladder | 4 | complete | |
| Segment walk — two options | 5 | complete | |
| Segment contribution walk | 6 | complete | |
| Segment walk — walk left, build-up right | 7 | complete | |
| 2 | Financial statements | 8 | complete |
| Income statement | 9 | complete | |
| Balance sheet | 10 | complete | |
| Cash flow | 11 | complete | |
| Driver walk — two variants | 12 | complete | |
| Driver walk — volume vs margin, margin by driver | 13 | complete | |
| Driver walk — bridge over the common-size P&L | 14 | complete | |
| Operating walk — three separate analyses | 15 | complete | |
| Operating bridge — by driver or by segment | 16 | complete |
| Ch. | Slide | Page | State |
|---|---|---|---|
| Financing & tax — from operating result to the bottom line | 17 | complete | |
| 3 | Capital & leverage | 18 | complete |
| Leverage walk — version 1 of 3 | 19 | complete | |
| Leverage & net-debt walk | 20 | complete | |
| Leverage walk — version 2 of 3 | 21 | complete | |
| Leverage — the two effects, then nested to source | 22 | complete | |
| Leverage — trend and the build-up behind it | 23 | complete | |
| Leverage walk — version 3 of 3 | 24 | complete | |
| Leverage — figure, bridge, evidence | 25 | complete | |
| Returns on capital — ROE, ROIC and what drives them | 26 | complete | |
| Capital returns to shareholders | 27 | complete | |
| 4 | Synthesis | 28 | complete |
| Scorecard — six KPIs at a glance | 29 | complete | |
| Discussion, findings and sources | 30 | complete | |
| Provenance & full concept ledger | 31 | complete | |
| End of analysis pack | 32 | complete |
| Segment | Revenue | Pre-tax $ | Pre-tax % | Net $ | Net % |
|---|---|---|---|---|---|
| Global Banking & Markets | 41.45 | 17.57 | 42.4% | 13.81 | 33.3% |
| Asset & Wealth Management | 16.68 | 4.13 | 24.7% | 3.24 | 19.4% |
| Platform Solutions | 0.15 | 0.15 | 100.0% | 0.12 | 78.8% |
| Σ Segments | 58.28 | 21.85 | 37.5% | 17.18 | 29.5% |
| = Group (consol. P&L) | 58.28 | 21.85 | 37.5% | 17.18 | 29.5% |
| Segment / income-statement line | FY2025 · $bn | % |
|---|---|---|
| Global Banking & Markets | 41.45 | 33.3% |
| Revenue | 41.45 | 100.0% |
| − Depreciation & amort. | 1.16 | 2.8% |
| = Pre-tax profit | 17.57 | 42.4% |
| = Net income | 13.81 | 33.3% |
| Asset & Wealth Management | 16.68 | 19.4% |
| Revenue | 16.68 | 100.0% |
| − Depreciation & amort. | 0.91 | 5.4% |
| = Pre-tax profit | 4.13 | 24.7% |
| = Net income | 3.24 | 19.4% |
| Platform Solutions | 0.15 | 78.8% |
| Revenue | 0.15 | 100.0% |
| − Depreciation & amort. | 0.12 | 78.1% |
| = Pre-tax profit | 0.15 | 100.0% |
| = Net income | 0.12 | 78.8% |
| Σ Segments | 58.28 | — |
| = Group (consol. P&L) | 58.28 | — |
SEC EDGAR companyfacts 10-K (audited) · Segment-XBRL · curated kpi. Every row reconciles to the group.
Profit levels by segment: Pre-tax, Net. Segment data annual-only (no LTM). 2nd dimension: Region.
reported derived (yellow tint).
→ Segment-Walk (who) · → Operating-Bridge (why) · → P&L
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 53.51 → FY25 58.28, change 4.77.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 46.25 → FY25 58.28, change 12.03.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY24 34.38pp → FY25 37.49pp, change 3.11pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY23 23.22pp → FY25 37.49pp, change 14.28pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY24 26.68pp → FY25 29.47pp, change 2.79pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY23 18.41pp → FY25 29.47pp, change 11.06pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Segment values from the SEC EDGAR segment axis, operating rows only (OperatingSegments preferred over bare members to avoid double-counting; aggregation artifacts skipped). Volume/margin split is order-neutral: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Group anchor = sum of members (no group anchor tagged).
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 53.51 → FY25 58.28, change 4.77.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 46.25 → FY25 58.28, change 12.03.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY24 34.38pp → FY25 37.49pp, change 3.11pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY23 23.22pp → FY25 37.49pp, change 14.28pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY24 26.68pp → FY25 29.47pp, change 2.79pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Who moved the group number? The bridge distributes the change across the individual members and closes exactly on the reported group figure via a residual item.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Each segment additionally split into volume and margin (margin-first: vol = Δrev·m₁, margin = r₀·Δm). Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
How many percentage points of group margin does each segment contribute? A segment acts through two channels: its profit contribution and its revenue weight — both sit inside its bar.
Shown: FY23 18.41pp → FY25 29.47pp, change 11.06pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Segment values from the EDGAR segment axis, operating rows only (OperatingSegments preferred so nothing double-counts); group anchor from the consolidated P&L. Per-segment contribution to group margin, order-neutral: c = ½·(1/R₀+1/R₁)·ΔP − ½·(P₀+P₁)/(R₀R₁)·ΔR. The residual Corporate & elim. carries central costs and intersegment eliminations. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
| $bn | FY23 | FY24 | FY25 | Δ | Anteil |
|---|---|---|---|---|---|
| Global Banking & Markets | 29.99 | 35.07 | 41.45 | +6.39 | 71% |
| Asset & Wealth Management | 14.20 | 16.32 | 16.68 | +0.36 | 29% |
| Platform Solutions | 2.06 | 2.13 | 0.15 | -1.98 | 0% |
| Group (Revenue) | 46.25 | 53.51 | 58.28 | +4.77 | 100% |
| Income statement · $m | Fiscal year · $m | Quarter (fiscal) · $m | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY25 | FY24 | FY23 | FY22 | FY21 | Q1·26 | Q4·25 | Q3·25 | Q2·25 | Q1·25 | Q4·24 | Q3·24 | Q2·24 | |
| Revenue | 58,283 | 53,512 | 46,254 | 47,365 | 59,339 | 17,227 | 13,454 | 15,184 | 14,583 | 15,062 | 13,869 | 12,699 | 12,731 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating expenses | — | — | — | — | — | — | — | — | — | — | — | — | — |
| R&D % of revenue | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating income (EBIT) | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating margin % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other income (expense), net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Income before income taxes | 21,852 | 18,397 | 10,739 | 13,486 | 27,044 | 6,486 | 5,855 | 5,392 | 4,958 | 5,647 | 5,257 | 3,987 | 3,916 |
| Provision for income taxes | 4,676 | 4,121 | 2,223 | 2,225 | 5,409 | 856 | 1,238 | 1,294 | 1,235 | 909 | 1,146 | 997 | 873 |
| Effective tax rate % | 21.4% | 22.4% | 20.7% | 16.5% | 20.0% | 13.2% | 21.1% | 24.0% | 24.9% | 16.1% | 21.8% | 25.0% | 22.3% |
| Net income | 17,176 | 14,276 | 8,516 | 11,261 | 21,635 | 5,630 | 4,617 | 4,098 | 3,723 | 4,738 | 4,111 | 2,990 | 3,043 |
| Net margin % | 29.5% | 26.7% | 18.4% | 23.8% | 36.5% | 32.7% | 34.3% | 27.0% | 25.5% | 31.5% | 29.6% | 23.5% | 23.9% |
| Diluted earnings per share ($) | 51.32 | 40.54 | 22.87 | 30.06 | 59.45 | 17.55 | — | 12.25 | 10.91 | 14.12 | — | 8.40 | 8.62 |
| Basic earnings per share ($) | 51.95 | 41.07 | 23.05 | 30.42 | 60.25 | 17.74 | — | 12.42 | 11.03 | 14.25 | — | 8.52 | 8.73 |
| Balance sheet · $m | Fiscal year · $m | Quarter (fiscal) · $m | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY25 | FY24 | FY23 | FY22 | FY21 | Q1·26 | Q4·25 | Q3·25 | Q2·25 | Q1·25 | Q4·24 | Q3·24 | Q2·24 | |
| Total assets | 1,809,320 | 1,675,972 | 1,641,594 | 1,441,799 | 1,463,988 | 2,060,180 | 1,809,320 | 1,807,982 | 1,785,009 | 1,766,181 | 1,675,972 | 1,728,080 | 1,653,313 |
| Total current assets | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Cash and equivalents | 164,259 | 182,092 | 241,577 | 241,825 | 261,036 | 179,530 | 164,259 | 169,577 | 152,967 | 167,408 | 182,092 | 154,689 | 206,326 |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Accounts receivable, net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventories | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other current assets | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other / unclassified, net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total non-current assets | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Property and equipment, net | 7,474 | 8,024 | 11,244 | 17,074 | — | 7,534 | 7,474 | 7,744 | 7,795 | 7,926 | 8,024 | 8,504 | 9,729 |
| Goodwill | 5,949 | 5,853 | 5,916 | 6,374 | 4,285 | 6,590 | 5,949 | 5,950 | 5,952 | 5,886 | 5,853 | 5,909 | 5,893 |
| Intangible assets, net | 842 | 847 | 1,177 | 2,009 | 418 | 932 | 842 | 864 | 888 | 854 | 847 | 925 | 992 |
| Long-term investments | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other long-term assets | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other / unclassified, net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total liabilities | 1,684,348 | 1,553,976 | 1,524,689 | 1,324,610 | 1,354,062 | 1,937,398 | 1,684,348 | 1,683,580 | 1,660,913 | 1,641,881 | 1,553,976 | 1,606,880 | 1,533,850 |
| Total current liabilities | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Current portion of debt | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other / unclassified, net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total non-current liabilities | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other long-term liabilities | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other / unclassified, net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stockholders' equity | 124,972 | 121,996 | 116,905 | 117,189 | 109,926 | 122,782 | 124,972 | 124,402 | 124,096 | 124,300 | 121,996 | 121,200 | 119,463 |
| Common stock and paid-in capital | 61,906 | 61,376 | 60,247 | 59,050 | 56,396 | 61,786 | 61,906 | 61,907 | 61,888 | 61,832 | 61,376 | 61,372 | 61,350 |
| Retained earnings | 165,288 | 153,412 | 143,688 | 139,372 | 131,811 | 169,316 | 165,288 | 162,143 | 159,535 | 157,019 | 153,412 | 150,454 | 148,652 |
| Accumulated other comprehensive income | -2,260 | -2,702 | -2,918 | -3,010 | -2,068 | -1,912 | -2,260 | -2,476 | -1,985 | -2,069 | -2,702 | -2,503 | -2,900 |
| Other / unclassified, net | -99,962 | -90,090 | -84,112 | -78,223 | -76,213 | -106,408 | -99,962 | -97,172 | -95,342 | -92,482 | -90,090 | -88,123 | -87,639 |
| Total liabilities and equity | 1,809,320 | 1,675,972 | 1,641,594 | 1,441,799 | 1,463,988 | 2,060,180 | 1,809,320 | 1,807,982 | 1,785,009 | 1,766,181 | 1,675,972 | 1,728,080 | 1,653,313 |
| Memo — leverage & capital | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total debt | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net cash (debt) | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Equity ratio % | 6.9% | 7.3% | 7.1% | 8.1% | 7.5% | 6.0% | 6.9% | 6.9% | 7.0% | 7.0% | 7.3% | 7.0% | 7.2% |
| Cash flow · $m | Fiscal year · $m | Quarter (fiscal) · $m | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY25 | FY24 | FY23 | FY22 | FY21 | Q1·26 | Q4·25 | Q3·25 | Q2·25 | Q1·25 | Q4·24 | Q3·24 | Q2·24 | |
| Net cash from operating activities | -45,154 | -13,212 | -12,587 | 8,708 | 6,298 | -31,868 | -16,276 | 2,680 | 5,672 | -37,230 | 46,766 | -38,060 | — |
| Net income | 17,176 | 14,276 | 8,516 | 11,261 | 21,635 | 5,630 | 4,617 | 4,098 | 3,723 | 4,738 | 4,111 | 2,990 | — |
| Depreciation and amortization | 2,182 | 2,392 | 4,856 | 2,455 | 2,015 | 495 | 527 | 531 | 618 | 506 | 498 | 621 | — |
| Stock-based compensation | 3,445 | 2,663 | 2,085 | 4,083 | 2,348 | 2,530 | 258 | 237 | 533 | 2,417 | 104 | 120 | — |
| Deferred income taxes | 204 | -800 | -1,360 | -2,412 | 5 | -47 | 357 | 49 | -356 | 154 | -147 | -202 | — |
| Working capital & other, net | -68,161 | -31,743 | -26,684 | -6,679 | -19,705 | -40,476 | -22,035 | -2,235 | 1,154 | -45,045 | 42,200 | -41,589 | — |
| Operating cash flow margin % | -77.5% | -24.7% | -27.2% | 18.4% | 10.6% | -185.0% | -121.0% | 17.7% | 38.9% | -247.2% | 337.2% | -299.7% | — |
| Net cash used in investing activities | -44,227 | -49,624 | -17,312 | -75,960 | -30,465 | -56,307 | -5,033 | -5,113 | -11,334 | -22,747 | -7,115 | -29,286 | — |
| Capital expenditures | -2,064 | -2,091 | -2,316 | -3,748 | -4,667 | -565 | -531 | -558 | -476 | -499 | -586 | -466 | — |
| Acquisitions, net | — | — | 487 | -2,115 | -0 | — | — | — | — | — | — | — | — |
| Other investing, net | -42,163 | -47,533 | -15,483 | -70,097 | -25,798 | -55,742 | -4,502 | -4,555 | -10,858 | -22,248 | -6,529 | -28,820 | — |
| Net cash from financing activities | 66,100 | 7,323 | 27,800 | 59,602 | 134,738 | 104,294 | 16,755 | 19,781 | -13,262 | 42,826 | -7,817 | 10,340 | — |
| Share repurchases | -12,360 | -8,000 | -5,796 | -3,500 | -5,200 | -5,000 | -3,000 | -2,000 | -3,000 | -4,360 | -2,000 | -1,000 | — |
| Dividends paid | -5,277 | -4,497 | -4,189 | -3,682 | -2,725 | -1,588 | -1,463 | -1,476 | -1,223 | -1,115 | -1,153 | -1,169 | — |
| Debt repayments, net | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other financing, net | 83,737 | 19,820 | 37,785 | 66,784 | 142,663 | 110,882 | 21,218 | 23,257 | -9,039 | 48,301 | -4,664 | 12,509 | — |
| Effect of exchange rate & other | 5,448 | -3,972 | 1,851 | -11,561 | -5,377 | -848 | -764 | -738 | 4,483 | 2,467 | -4,431 | 5,369 | — |
| Net change in cash | -17,833 | -59,485 | -248 | -19,211 | 105,194 | 15,271 | -5,318 | 16,610 | -14,441 | -14,684 | 27,403 | -51,637 | — |
| Free cash flow (OCF − capex) | -47,218 | -15,303 | -14,903 | 4,960 | 1,631 | -32,433 | -16,807 | 2,122 | 5,196 | -37,729 | 46,180 | -38,526 | — |
| Free cash flow margin % | -81.0% | -28.6% | -32.2% | 10.5% | 2.7% | -188.3% | -124.9% | 14.0% | 35.6% | -250.5% | 333.0% | -303.4% | — |
| Capital returned (buybacks + dividends) | -17,637 | -12,497 | -9,985 | -7,182 | -7,925 | -6,588 | -4,463 | -3,476 | -4,223 | -5,475 | -3,153 | -2,169 | — |
| Payout % of free cash flow | -37.4% | -81.7% | -67.0% | 144.8% | 485.9% | -20.3% | -26.6% | 163.8% | 81.3% | -14.5% | 6.8% | -5.6% | — |
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.45.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY24 34.38% → FY25 37.49%, change 3.11%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY23 23.22% → FY25 37.49%, change 14.28%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY22 28.47% → FY25 37.49%, change 9.02%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY24 26.68% → FY25 29.47%, change 2.79%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY23 18.41% → FY25 29.47%, change 11.06%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY22 23.77% → FY25 29.47%, change 5.70%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Consolidated P&L from SEC EDGAR companyfacts (annual durations only). Driver contribution of a cost step = −Rev₀·Δ(step/Rev); tagged sub-lines are itemised and reconcile to the step. Volume/margin: margin-first = Δrev·m₁ and r₀·Δm; Shapley = ½·Δrev·(m₀+m₁) and ½·(r₀+r₁)·Δm — both sum exactly to ΔP. In pp scale the volume effect is zero by construction.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.45.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 18.40 → FY25 21.85, change 3.46.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY24 34.38% → FY25 37.49%, change 3.11%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 10.74 → FY25 21.85, change 11.11.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY23 23.22% → FY25 37.49%, change 14.28%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 13.49 → FY25 21.85, change 8.37.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY22 28.47% → FY25 37.49%, change 9.02%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY24 26.68% → FY25 29.47%, change 2.79%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY23 18.41% → FY25 29.47%, change 11.06%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin margin-first: vol = Δrev·m₁, margin = r₀·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Why profit moved: profit = revenue × margin. The bridge separates the volume effect from the margin effect and breaks the margin effect into the individual cost blocks.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Volume/margin by Shapley: vol = ½·Δrev·(m₀+m₁), margin = ½·(r₀+r₁)·Δm. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same question in percentage points of margin. The volume effect is necessarily absent — more revenue alone does not change the margin; what remains are the cost ratios.
Shown: FY22 23.77% → FY25 29.47%, change 5.70%.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
A cost step contributes −Rev₀·Δ(step/Rev); tagged sub-lines are shown individually and reconcile to the step. Consolidated P&L, annual durations only. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
| $bn | FY24 | FY25 | % rev FY24 | % rev FY25 | Δpp |
|---|---|---|---|---|---|
| Revenue | 53.51 | 58.28 | 100.0% | 100.0% | +0.0pp |
| Noninterest expense | 33.77 | 37.54 | 63.1% | 64.4% | +1.3pp |
| Provisions | 1.35 | -1.11 | 2.5% | -1.9% | -4.4pp |
| D&A | 2.39 | 2.18 | 4.5% | 3.7% | -0.7pp |
| Income tax | 4.12 | 4.68 | 7.7% | 8.0% | +0.3pp |
| Net income | 14.28 | 17.18 | 26.7% | 29.5% | +2.8pp |
This firm tags no operating profit level (no gross profit, EBITDA or EBIT) — nothing to bridge.
Consolidated P&L from SEC EDGAR companyfacts; segment view from the segment axis (operating rows only). Tax is split rate-versus-base: rate effect = −EBT₁·Δr, base effect = −ΔEBT·r₀ — together they equal the total tax change exactly. Exceptionals cover restructuring, goodwill and asset impairment, disposal gains/losses and acquisition costs, each only where the firm tags it.
What happens between EBIT and net income: non-operating result and tax. Tax is separated into two causes — a different rate and a larger base are two different things.
Shown: FY24 14.28 → FY25 17.18, change 2.90.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Effective tax rate 22.4 % → 21.4 %. Rate effect = −EBT₁·Δr, higher-base effect = −ΔEBT·r₀; together they equal the tax change exactly. Effective rate = (EBT − net) / EBT. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
What happens between EBIT and net income: non-operating result and tax. Tax is separated into two causes — a different rate and a larger base are two different things.
Shown: FY23 8.52 → FY25 17.18, change 8.66.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Effective tax rate 20.7 % → 21.4 %. Rate effect = −EBT₁·Δr, higher-base effect = −ΔEBT·r₀; together they equal the tax change exactly. Effective rate = (EBT − net) / EBT. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
What happens between EBIT and net income: non-operating result and tax. Tax is separated into two causes — a different rate and a larger base are two different things.
Shown: FY22 11.26 → FY25 17.18, change 5.91.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Effective tax rate 16.5 % → 21.4 %. Rate effect = −EBT₁·Δr, higher-base effect = −ΔEBT·r₀; together they equal the tax change exactly. Effective rate = (EBT − net) / EBT. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
This firm tags no restructuring, impairment, disposal or acquisition-cost item in the compared years — nothing to adjust for. That is a finding, not a gap.
Leverage is the wrong lens for a bank: debt is raw material, not a burden. Capital adequacy (CET1 / risk-weighted assets) is the governing constraint, and it is not derivable from the companyfacts tags loaded here.
Leverage is the wrong lens for a bank: debt is raw material, not a burden. Capital adequacy (CET1 / risk-weighted assets) is the governing constraint, and it is not derivable from the companyfacts tags loaded here.
Leverage is the wrong lens for a bank: debt is raw material, not a burden. Capital adequacy (CET1 / risk-weighted assets) is the governing constraint, and it is not derivable from the companyfacts tags loaded here.
Leverage is the wrong lens for a bank: debt is raw material, not a burden. Capital adequacy (CET1 / risk-weighted assets) is the governing constraint, and it is not derivable from the companyfacts tags loaded here.
Leverage is the wrong lens for a bank: debt is raw material, not a burden. Capital adequacy (CET1 / risk-weighted assets) is the governing constraint, and it is not derivable from the companyfacts tags loaded here.
What does the shareholders' equity earn?
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
ROE = net income / equity (point-in-time). All inputs from the same statement layer as the P&L and balance sheet. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
What do total assets earn?
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
ROA = net income / total assets (point-in-time). All inputs from the same statement layer as the P&L and balance sheet. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same years, three denominators: equity, invested capital, total assets. The gap between ROE and ROIC shows how much the capital lever contributes.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
ROE = net/equity · ROIC = EBIT·(1−tax rate)/(equity+debt−cash) · ROA = net/assets. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 11.70pp → ROE 13.74pp, change 2.04pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 26.7 % → 29.5 %, turnover 0.03 → 0.03, multiplier 13.74 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 11.70pp → ROE 13.74pp, change 2.04pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 26.7 % → 29.5 %, turnover 0.03 → 0.03, multiplier 13.74 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 11.70pp → ROE 13.74pp, change 2.04pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 26.7 % → 29.5 %, turnover 0.03 → 0.03, multiplier 13.74 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 7.28pp → ROE 13.74pp, change 6.46pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 18.4 % → 29.5 %, turnover 0.03 → 0.03, multiplier 14.04 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 7.28pp → ROE 13.74pp, change 6.46pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 18.4 % → 29.5 %, turnover 0.03 → 0.03, multiplier 14.04 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 7.28pp → ROE 13.74pp, change 6.46pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 18.4 % → 29.5 %, turnover 0.03 → 0.03, multiplier 14.04 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 9.61pp → ROE 13.74pp, change 4.13pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 23.8 % → 29.5 %, turnover 0.03 → 0.03, multiplier 12.30 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 9.61pp → ROE 13.74pp, change 4.13pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 23.8 % → 29.5 %, turnover 0.03 → 0.03, multiplier 12.30 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 9.61pp → ROE 13.74pp, change 4.13pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 23.8 % → 29.5 %, turnover 0.03 → 0.03, multiplier 12.30 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
All inputs from the same statement layer as the P&L, balance sheet and cash-flow slides. ROE = net income / equity · ROA = net income / assets · ROIC = EBIT·(1 − effective tax rate) / (equity + debt − cash). DuPont splits ΔROE into margin × asset turnover × equity multiplier using the order-neutral Shapley decomposition for a three-factor product — the three contributions sum to the ROE change exactly.
What does the shareholders' equity earn?
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
ROE = net income / equity (point-in-time). All inputs from the same statement layer as the P&L and balance sheet. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
What do total assets earn?
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
ROA = net income / total assets (point-in-time). All inputs from the same statement layer as the P&L and balance sheet. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same years, three denominators: equity, invested capital, total assets. The gap between ROE and ROIC shows how much the capital lever contributes.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
ROE = net/equity · ROIC = EBIT·(1−tax rate)/(equity+debt−cash) · ROA = net/assets. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 11.70pp → ROE 13.74pp, change 2.04pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 26.7 % → 29.5 %, turnover 0.03 → 0.03, multiplier 13.74 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 11.70pp → ROE 13.74pp, change 2.04pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 26.7 % → 29.5 %, turnover 0.03 → 0.03, multiplier 13.74 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 11.70pp → ROE 13.74pp, change 2.04pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 26.7 % → 29.5 %, turnover 0.03 → 0.03, multiplier 13.74 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 7.28pp → ROE 13.74pp, change 6.46pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 18.4 % → 29.5 %, turnover 0.03 → 0.03, multiplier 14.04 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 7.28pp → ROE 13.74pp, change 6.46pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 18.4 % → 29.5 %, turnover 0.03 → 0.03, multiplier 14.04 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 7.28pp → ROE 13.74pp, change 6.46pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 18.4 % → 29.5 %, turnover 0.03 → 0.03, multiplier 14.04 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 9.61pp → ROE 13.74pp, change 4.13pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 23.8 % → 29.5 %, turnover 0.03 → 0.03, multiplier 12.30 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 9.61pp → ROE 13.74pp, change 4.13pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 23.8 % → 29.5 %, turnover 0.03 → 0.03, multiplier 12.30 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
ROE is a product of three factors: margin (how much of revenue is kept), asset turnover (how much revenue per balance-sheet dollar) and the equity multiplier (how much balance sheet per equity dollar). The bridge shows which of the three carried the move.
Shown: ROE 9.61pp → ROE 13.74pp, change 4.13pp.
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Margin 23.8 % → 29.5 %, turnover 0.03 → 0.03, multiplier 12.30 → 14.48. Order-neutral Shapley decomposition of a three-factor product: φ_a = Δa·[b₀c₀/3 + (b₀c₁+b₁c₀)/6 + b₁c₁/3], likewise for b and c — the three contributions equal the ROE change exactly. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
What flows back to shareholders — and what is available for it? The third series is free cash flow, which pays for both.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Buybacks = PaymentsForRepurchaseOfCommonStock, dividends = PaymentsOfDividends(CommonStock); free cash flow = operating cash flow − capex. A zero is a reported zero, not a missing figure. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same returns measured against what funds them. Values above 100% mean more was paid out than earned in the year.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Buybacks = PaymentsForRepurchaseOfCommonStock, dividends = PaymentsOfDividends(CommonStock); free cash flow = operating cash flow − capex. A zero is a reported zero, not a missing figure. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The same returns measured against what funds them. Values above 100% mean more was paid out than earned in the year.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Buybacks = PaymentsForRepurchaseOfCommonStock, dividends = PaymentsOfDividends(CommonStock); free cash flow = operating cash flow − capex. A zero is a reported zero, not a missing figure. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The tile shows the current value (% YoY) and, below it, how it developed across the recent fiscal years.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Revenue growth = revenue / prior-year revenue − 1. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
not defined — EBIT / revenue
not defined — NOPAT / invested capital
The tile shows the current value (OCF − capex) and, below it, how it developed across the recent fiscal years.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Free cash flow = operating cash flow − capex, in $bn. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The tile shows the current value (FCF / OCF) and, below it, how it developed across the recent fiscal years.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Cash conversion = free cash flow / operating cash flow. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
The tile shows the current value (buybacks + dividends) and, below it, how it developed across the recent fiscal years.
Each series is one measure across the fiscal years; the points are reported or directly derived annual values, not smoothed.
Payout ratio = (buybacks + dividends) / free cash flow. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
p1_GS.sqlite; annual and quarterly durations separated by period length; segment values from the segment axis.| Line | resolved us-gaap tag | facts | state | rest of the chain |
|---|---|---|---|---|
| rev | RevenuesNetOfInterestExpense | 84 | resolved | RevenueFromContractWithCustomerExcludingAssessedTax, Revenues |
| cogs | — | — | not tagged | CostOfGoodsAndServicesSold, CostOfRevenue |
| gross | — | — | not tagged | GrossProfit |
| rnd | — | — | not tagged | ResearchAndDevelopmentExpense |
| sm | — | — | not tagged | SellingAndMarketingExpense, MarketingExpense |
| ga | — | — | not tagged | GeneralAndAdministrativeExpense |
| sga | — | — | not tagged | SellingGeneralAndAdministrativeExpense |
| opex | — | — | not tagged | OperatingExpenses, CostsAndExpenses |
| ebit | — | — | not tagged | OperatingIncomeLoss |
| other | — | — | not tagged | NonoperatingIncomeExpense, OtherNonoperatingIncomeExpense |
| pretax | IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 102 | resolved | IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments |
| tax | IncomeTaxExpenseBenefit | 124 | resolved | — |
| net | NetIncomeLoss | 125 | resolved | ProfitLoss |
| epsd | EarningsPerShareDiluted | 124 | resolved | — |
| epsb | EarningsPerShareBasic | 124 | resolved | — |
Loaded: 21,865 facts across 788 concepts for CIK 0000886982. The chain is tried in order; the first tag with a value for 2025-12-31 wins — that is how one report stays readable across firms that report the same measure under different tags.