Pershing Square Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	768.71	762.51	455.5	512.66
Revenue Growth	68.29%	67.40%	-11.15%	-
Cost of Revenue	596.11	536.66	408.43	231.54
Gross Profit	172.6	225.85	47.06	281.12
Selling, General & Admin	124.65	62.3	63.98	35.77
Operating Expenses	126.94	64.6	66.75	38.53
Operating Income	45.66	161.25	-19.69	242.59
Interest Expense	-4.17	-2.3	-3.1	-7.07
Interest & Investment Income	2.76	16.91	28.51	0.74
Other Non Operating Income (Expenses)	15.55	5.24	5.67	4.27
EBT Excluding Unusual Items	59.8	181.09	11.39	240.53
Gain (Loss) on Sale of Investments	-19.68	122.92	6.99	11.36
Pretax Income	40.12	304.02	18.38	251.89
Income Tax Expense	10.18	22.31	15.99	18.17
Earnings From Continuing Operations	29.95	281.71	2.39	233.72
Minority Interest in Earnings	-13.86	-31.93	-16.54	-24.26
Net Income	16.09	249.78	-14.15	209.46
Net Income to Common	16.09	249.78	-14.15	209.46
Net Income Growth	-	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	172.02	-134.68	292.92	83.78
Gross Margin	22.45%	29.62%	10.33%	54.84%
Operating Margin	5.94%	21.15%	-4.32%	47.32%
Profit Margin	2.09%	32.76%	-3.11%	40.86%
Free Cash Flow Margin	22.38%	-17.66%	64.31%	16.34%
EBITDA	63.17	163.55	-16.91	245.35
EBITDA Margin	8.22%	21.45%	-3.71%	47.86%
D&A For EBITDA	17.51	2.3	2.78	2.76
EBIT	45.66	161.25	-19.69	242.59
EBIT Margin	5.94%	21.15%	-4.32%	47.32%
Effective Tax Rate	25.36%	7.34%	86.99%	7.21%
Revenue as Reported	768.71	762.51	455.5	512.66

SEC Filings: 10-K · 10-Q