Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $799M | $912M | $1.02B | $1.18B | $1.39B | $1.70B | $1.87B | $2.04B | $2.28B | $2.45B |
| Revenue growth | — | 14.2% | 11.9% | 15.6% | 17.9% | 22.3% | 10.1% | 9.0% | 11.6% | 7.5% |
| Operating income | $181M | $170M | $216M | $190M | $215M | $257M | $168M | $231M | $485M | $527M |
| Operating margin | 22.6% | 18.6% | 21.2% | 16.1% | 15.5% | 15.1% | 9.0% | 11.3% | 21.3% | 21.5% |
| Net income | $161M | $137M | $183M | $152M | $224M | $193M | $70.5M | $141M | $370M | $374M |
| Net margin | 20.2% | 15.0% | 17.9% | 12.9% | 16.1% | 11.4% | 3.8% | 6.9% | 16.3% | 15.3% |
| EPS (diluted) | $3.72 | $3.18 | $4.25 | $3.52 | $5.18 | $4.45 | $1.64 | $3.29 | $8.58 | $8.87 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $214M | $250M | $315M | $334M | $384M | $450M | $298M | $316M | $592M | $590M |
| Capital expenditures | $62.8M | $66.6M | $76.1M | $80.0M | $76.7M | $102M | $130M | $119M | $143M | $147M |
| Free cash flow | $151M | $184M | $239M | $254M | $308M | $348M | $168M | $197M | $449M | $443M |
| Share buybacks | $48.8M | $42.3M | $20.9M | $4.90M | $41.9M | $1.30M | $226M | $1.40M | $11.6M | $787M |
| Dividends paid | $37.9M | $39.3M | $42.6M | $47.8M | $51.4M | $54.2M | $61.5M | $63.9M | $69.3M | $76.9M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $259M | $308M | $369M | $334M | $423M | $484M | $377M | $338M | $503M | $475M |
| Total assets | $1.35B | $1.41B | $1.45B | $2.37B | $2.70B | $2.86B | $3.47B | $3.40B | $3.55B | $3.59B |
| Total liabilities | $654M | $601M | $519M | $1.29B | $1.42B | $1.45B | $2.27B | $2.08B | $1.93B | $2.37B |
| Long-term debt | — | — | $70.0M | $502M | $449M | $359M | $1.11B | $972M | $699M | $1.07B |
| Shareholders' equity | $697M | $805M | $935M | $1.08B | $1.27B | $1.42B | $1.21B | $1.33B | $1.62B | $1.22B |
| Retained earnings | $862M | $959M | $1.11B | $1.22B | $1.39B | $1.53B | $1.53B | $1.61B | $1.91B | $2.21B |
| Shares (wtd avg diluted) | 43.3M | 43.0M | 43.0M | 43.2M | 43.2M | 43.4M | 42.9M | 42.9M | 43.1M | 42.2M |
Every figure is extracted from Morningstar, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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