PII: financial statements from SEC

Income statement

Metric	31/12/2025	31/12/2024
Revenue	7.15B	7.18B
Cost of revenue	5.78B	5.71B
Gross profit	1.37B	1.47B
Research and development	372M	337M
Selling, general and administrative	542M	437M
Operating expenses	1.80B	1.27B
Operating income	−349M	291M
Interest expense	131M	137M
Pre-tax income	−533M	141M
Income tax	−68M	30M
Net income	−466M	111M
Earnings per share	−8.18	1.96
Earnings per share, diluted	−8.18	1.95
Weighted average shares	57M	57M
Weighted average shares, diluted	57M	57M

Metric	31/03/2026	31/12/2025	30/09/2025	30/06/2025	31/03/2025	31/12/2024	30/09/2024	30/06/2024
Cash and equivalents	282M	138M	336M	324M	292M	288M	291M	323M
Receivables	249M	238M	230M	225M	211M	192M	224M	255M
Inventory	1.57B	1.41B	1.70B	1.70B	1.75B	1.74B	2.00B	2.00B
Current assets	2.59B	2.21B	2.60B	2.61B	2.59B	2.63B	2.73B	2.80B
Property, plant and equipment	996M	1.03B	1.08B	1.15B	1.16B	1.19B	1.20B	1.21B
Total assets	5.24B	4.89B	5.31B	5.39B	5.45B	5.53B	5.63B	5.71B
Current liabilities	2.13B	2.24B	2.55B	2.50B	2.31B	2.29B	2.25B	1.98B
Long-term debt	2.06B	1.50B	1.30B	1.39B	1.62B	1.64B	1.73B	2.09B
Total liabilities	4.48B	4.05B	4.15B	4.19B	4.22B	4.22B	4.27B	4.36B
Equity	750M	828M	1.15B	1.19B	1.23B	1.29B	1.35B	1.34B
Shares outstanding	57M	57M	56M	56M	56M	56M	56M	56M
Shares issued	57M	57M	56M	56M	56M	56M	56M	56M

Metric	31/12/2025	31/12/2024
Operating cash flow	741M	268M
Depreciation and amortisation	287M	286M
Share-based compensation	60M	49M
Capital expenditure	183M	262M
Investing cash flow	−140M	−271M
Dividends paid	150M	148M
Share buybacks	2M	83M
Financing cash flow	−693M	−59M