Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-07-17.
Street snapshot
The 17 price targets span a wide $129 to $286, with a $210.76 mean sitting just above the $209 median.
Currency: USD · Scale: money in millions, absolute (per share) · Analyst counts shown explicitly; recommendation respondents: 19.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 3, Outperform 0, Hold 15, Underperform 1, Sell 0 | 19 |
| Consensus score | 2.74 | 19 |
| Target price | mean 210.8; high 286.0; low 129.0 | 17 |
Forward table
The larger move is in earnings, where normalized EPS is modeled to more than halve to roughly $5.16 in FY2026 and then rebuild to $9.29 in FY2027, with no dividend forecast across the window.
Currency: USD · Scale: money in millions, absolute (per share) · Analyst count is the estimate count for each period and metric.
| Period | Metric | Mean | YoY | Analysts | Low / high |
|---|---|---|---|---|---|
| FY0E | Revenue | 44,277 | -2.5% | 15 | 42,247 / 45,764 |
| FY0E | EBITDA | 682.8 | -33.8% | 9 | 552.4 / 749.0 |
| FY0E | EBIT | 535.0 | -50.8% | — | — / — |
| FY0E | Net income (GAAP) | 153.8 | -67.4% | 9 | 72.07 / 238.5 |
| FY0E | Net income (normalized) | 262.5 | -64.5% | — | — / — |
| FY0E | EPS (GAAP) | 3.32 | -62.7% | 7 | 1.41 / 4.66 |
| FY0E | EPS (normalized) | 5.16 | -53.2% | 19 | 4.36 / 5.60 |
| FY0E | Free cash flow | 1,861 | -433.5% | — | — / — |
| FY0E | Dividend per share | 0.00 | — | — | — / — |
| FY0E | Gross margin | 12.4% | -4.9% | — | — / — |
| FY0E | Capital expenditure | -129.7 | -4.6% | — | — / — |
| FY0E | Net debt | -1,315 | 56.6% | — | — / — |
| FY0E | ROE | 6.0% | -63.4% | — | — / — |
| FY0E | Cash from operations | 1,046 | -529.5% | — | — / — |
| FY+1E | Revenue | 47,524 | 7.3% | 14 | 44,242 / 50,874 |
| FY+1E | EBITDA | 964.2 | 41.2% | 9 | 762.1 / 1,179 |
| FY+1E | EBIT | 848.6 | 58.6% | — | — / — |
| FY+1E | Net income (GAAP) | 488.2 | 217.4% | 8 | 319.9 / 695.7 |
| FY+1E | Net income (normalized) | 478.6 | 82.3% | — | — / — |
| FY+1E | EPS (GAAP) | 8.34 | 150.9% | 8 | 1.46 / 12.62 |
| FY+1E | EPS (normalized) | 9.29 | 80.1% | 19 | 3.50 / 13.50 |
| FY+1E | Free cash flow | 769.6 | -58.6% | — | — / — |
| FY+1E | Dividend per share | 0.00 | — | — | — / — |
| FY+1E | Gross margin | 12.6% | 2.3% | — | — / — |
| FY+1E | Capital expenditure | -151.5 | 16.8% | — | — / — |
| FY+1E | Net debt | -1,854 | 41.0% | — | — / — |
| FY+1E | Cash from operations | 707.6 | -32.3% | — | — / — |
| FY+1E | ROE | 10.0% | 65.3% | — | — / — |
| FY+2E | Revenue | 50,434 | 6.1% | 10 | 46,498 / 55,410 |
| FY+2E | EBITDA | 1,107 | 14.8% | 7 | 869.4 / 1,274 |
| FY+2E | EBIT | 1,077 | 26.9% | — | — / — |
| FY+2E | Net income (GAAP) | 572.1 | 17.2% | 6 | 400.4 / 803.0 |
| FY+2E | Net income (normalized) | 650.7 | 36.0% | — | — / — |
| FY+2E | EPS (GAAP) | 11.46 | 37.4% | 5 | 7.85 / 15.74 |
| FY+2E | EPS (normalized) | 12.93 | 39.1% | 13 | 9.65 / 16.70 |
| FY+2E | Free cash flow | 1,145 | 48.8% | — | — / — |
| FY+2E | Dividend per share | 0.00 | — | — | — / — |
| FY+2E | Gross margin | 12.9% | 1.8% | — | — / — |
| FY+2E | Capital expenditure | -165.4 | 9.1% | — | — / — |
| FY+2E | Net debt | -2,531 | 36.5% | — | — / — |
| FY+2E | Cash from operations | 911.7 | 28.8% | — | — / — |
| FY+2E | ROE | 10.8% | 8.7% | — | — / — |
| Q2 FY2026 | Revenue | 10,781 | -5.7% | 13 | 10,218 / 11,056 |
| Q2 FY2026 | EBITDA | 174.0 | -61.3% | 7 | 158.2 / 197.9 |
| Q2 FY2026 | EBIT | 144.2 | -67.2% | — | — / — |
| Q2 FY2026 | Net income (GAAP) | 60.23 | -76.4% | 8 | 44.00 / 89.20 |
| Q2 FY2026 | Net income (normalized) | 74.74 | -74.6% | — | — / — |
| Q2 FY2026 | EPS (GAAP) | 1.25 | -73.6% | 6 | 0.87 / 1.75 |
| Q2 FY2026 | EPS (normalized) | 1.40 | -74.4% | 18 | 0.98 / 2.04 |
| Q2 FY2026 | Free cash flow | -82.00 | -130.6% | — | — / — |
| Q2 FY2026 | Dividend per share | 0.00 | — | — | — / — |
| Q2 FY2026 | Gross margin | 12.2% | -17.1% | — | — / — |
| Q2 FY2026 | Capital expenditure | -33.45 | 3.2% | — | — / — |
| Q2 FY2026 | Net debt | -1,803 | 26.5% | — | — / — |
| Q2 FY2026 | ROE | 7.5% | -70.9% | — | — / — |
| Q2 FY2026 | Cash from operations | -312.1 | -226.9% | — | — / — |
| Q3 FY2026 | Revenue | 10,901 | -5.0% | 13 | 10,207 / 11,271 |
| Q3 FY2026 | EBITDA | 174.2 | -5.8% | 7 | 136.3 / 221.5 |
| Q3 FY2026 | EBIT | 141.5 | -54.6% | — | — / — |
| Q3 FY2026 | Net income (GAAP) | 51.25 | -35.1% | 8 | 30.05 / 81.51 |
| Q3 FY2026 | Net income (normalized) | 58.46 | -71.9% | — | — / — |
| Q3 FY2026 | EPS (GAAP) | 1.05 | -30.3% | 6 | 0.59 / 1.59 |
| Q3 FY2026 | EPS (normalized) | 1.27 | -31.1% | 18 | 0.73 / 1.92 |
| Q3 FY2026 | Free cash flow | 123.0 | -25.0% | — | — / — |
| Q3 FY2026 | Dividend per share | 0.00 | — | — | — / — |
| Q3 FY2026 | Gross margin | 12.3% | -11.4% | — | — / — |
| Q3 FY2026 | Capital expenditure | -33.92 | 3.1% | — | — / — |
| Q3 FY2026 | Net debt | -1,876 | 48.6% | — | — / — |
| Q3 FY2026 | ROE | 8.7% | -48.4% | — | — / — |
| Q3 FY2026 | Cash from operations | 194.4 | 56.7% | — | — / — |
| Q4 FY2026 | Revenue | 11,843 | 4.1% | 13 | 11,064 / 12,640 |
| Q4 FY2026 | EBITDA | 107.6 | -198.7% | 6 | 55.38 / 139.0 |
| Q4 FY2026 | EBIT | 65.39 | -1.9% | — | — / — |
| Q4 FY2026 | Net income (GAAP) | -7.93 | -95.0% | 8 | -73.51 / 22.54 |
| Q4 FY2026 | Net income (normalized) | 6.39 | -41.5% | — | — / — |
| Q4 FY2026 | EPS (GAAP) | -0.14 | -95.4% | 6 | -1.44 / 0.42 |
| Q4 FY2026 | EPS (normalized) | 0.13 | -104.7% | 18 | -1.15 / 0.85 |
| Q4 FY2026 | Free cash flow | 409.0 | — | — | — / — |
| Q4 FY2026 | Dividend per share | 0.00 | — | — | — / — |
| Q4 FY2026 | Gross margin | 11.4% | 6.9% | — | — / — |
| Q4 FY2026 | Capital expenditure | -36.17 | 11.5% | — | — / — |
| Q4 FY2026 | Net debt | -2,122 | 306.4% | — | — / — |
| Q4 FY2026 | Cash from operations | 174.6 | -893.5% | — | — / — |
| Q4 FY2026 | ROE | -1.1% | -169.2% | — | — / — |
| Q1 FY2027 | Revenue | 11,389 | 5.5% | 6 | 10,612 / 12,229 |
| Q1 FY2027 | EBITDA | 290.6 | 77.2% | 5 | 235.3 / 396.4 |
| Q1 FY2027 | EBIT | 271.6 | 53.9% | — | — / — |
| Q1 FY2027 | Net income (GAAP) | 158.3 | 1030.5% | 5 | 113.6 / 232.4 |
| Q1 FY2027 | Net income (normalized) | 177.2 | 78.7% | — | — / — |
| Q1 FY2027 | EPS (GAAP) | 3.04 | 1027.0% | 4 | 2.23 / 4.58 |
| Q1 FY2027 | EPS (normalized) | 2.96 | 26.0% | 11 | 1.98 / 4.79 |
| Q1 FY2027 | Dividend per share | 0.00 | — | — | — / — |
| Q1 FY2027 | Gross margin | 13.2% | 11.3% | — | — / — |
| Q1 FY2027 | Capital expenditure | -40.76 | 23.5% | — | — / — |
| Q1 FY2027 | Net debt | -2,175 | 277.5% | — | — / — |
| Q1 FY2027 | ROE | 23.0% | 153.7% | — | — / — |
| Q1 FY2027 | Cash from operations | 177.0 | -76.8% | — | — / — |
Estimate momentum
Those reductions largely predate the last 30 days, over which both years' revenue and EPS have been broadly stable to slightly higher.
Currency: USD · Scale: money in millions, absolute (per share) · Point-in-time consensus; analyst count is shown where supplied.
| Period | Metric | Lookback | Then | Now | Direction / magnitude | Analysts |
|---|---|---|---|---|---|---|
| 2028 | Revenue | 30d | 49,540 | 50,434 | up 1.8% | — |
| 2028 | Revenue | 90d | 49,155 | 50,434 | up 2.6% | — |
| 2028 | Revenue | 180d | 52,122 | 50,434 | down 3.2% | — |
| 2027 | EPS (normalized) | 30d | 9.26 | 9.29 | up 0.3% | — |
| 2027 | EPS (normalized) | 90d | 8.20 | 9.29 | up 13.4% | — |
| 2027 | EPS (normalized) | 180d | 16.34 | 9.29 | down 43.1% | — |
| 2027 | Revenue | 30d | 47,249 | 47,524 | up 0.6% | — |
| 2027 | Revenue | 90d | 46,671 | 47,524 | up 1.8% | — |
| 2027 | Revenue | 180d | 50,371 | 47,524 | down 5.7% | — |
| 2028 | EPS (normalized) | 30d | 12.34 | 12.93 | up 4.8% | — |
| 2028 | EPS (normalized) | 90d | 12.51 | 12.93 | up 3.4% | — |
| 2028 | EPS (normalized) | 180d | 25.09 | 12.93 | down 48.4% | — |
Beat / miss record
Current sequences by metric: Revenue: 1 consecutive miss; EPS (normalized): 1 consecutive beat.
Currency: USD · Scale: money in millions, absolute (per share) · Consensus is captured before each actual first became effective; analyst count shown per observation.
| Quarter | Metric | Consensus as of | Actual | Surprise | Outcome | Analysts |
|---|---|---|---|---|---|---|
| Q1 FY2026 | Revenue | 10,886 | 10,796 | -0.8% | Miss | — |
| Q1 FY2026 | EPS (normalized) | 1.91 | 2.35 | 23.0% | Beat | — |
| Q4 FY2025 | Revenue | 10,905 | 11,375 | 4.3% | Beat | — |
| Q4 FY2025 | EPS (normalized) | 0.33 | -2.75 | -921.5% | Miss | — |
| Q3 FY2025 | Revenue | 10,984 | 11,477 | 4.5% | Beat | — |
| Q3 FY2025 | EPS (normalized) | 3.89 | 1.84 | -52.7% | Miss | — |
| Q2 FY2025 | Revenue | 10,941 | 11,427 | 4.4% | Beat | — |
| Q2 FY2025 | EPS (normalized) | 5.53 | 5.48 | -0.9% | Miss | — |
| Q1 FY2025 | Revenue | 10,814 | 11,147 | 3.1% | Beat | — |
| Q1 FY2025 | EPS (normalized) | 5.96 | 6.08 | 2.1% | Beat | — |
| Q4 FY2024 | Revenue | 10,319 | 10,499 | 1.7% | Beat | — |
| Q4 FY2024 | EPS (normalized) | 5.88 | 5.05 | -14.2% | Miss | — |
| Q3 FY2024 | Revenue | 9,912 | 10,340 | 4.3% | Beat | — |
| Q3 FY2024 | EPS (normalized) | 5.94 | 6.01 | 1.1% | Beat | — |
| Q2 FY2024 | Revenue | 9,754 | 9,880 | 1.3% | Beat | — |
| Q2 FY2024 | EPS (normalized) | 5.68 | 5.86 | 3.2% | Beat | — |
Where the street disagrees
Currency: USD · Scale: money in millions, absolute (per share) · Dispersion is high-low divided by absolute mean; analyst count shown per item.
| Period | Metric | Mean | Low | High | Spread / mean | Analysts |
|---|---|---|---|---|---|---|
| Q4 FY2026 | EPS (normalized) | 0.13 | -1.15 | 0.85 | 1563.0% | 18 |
| Q4 FY2026 | EPS (GAAP) | -0.14 | -1.44 | 0.42 | 1287.7% | 6 |
| Q4 FY2026 | Net income (GAAP) | -7.93 | -73.51 | 22.54 | 1210.8% | 8 |
| Q4 FY2025 | Net income (GAAP) | -5.11 | -34.71 | 15.00 | 973.5% | 7 |
| Q4 FY2025 | EPS (GAAP) | -0.17 | -0.68 | 0.15 | 478.2% | 5 |