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	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	759.12	762.51	455.5	512.66
Revenue Growth	61.48%	67.40%	-11.15%	-
Cost of Revenue	571.31	536.66	408.43	231.54
Gross Profit	187.81	225.85	47.06	281.12
Selling, General & Admin	184.21	62.3	63.98	35.77
Operating Expenses	186.46	64.6	66.75	38.53
Operating Income	1.35	161.25	-19.69	242.59
Interest Expense	-7.45	-2.3	-3.1	-7.07
Interest & Investment Income	3.39	16.91	28.51	0.74
Other Non Operating Income (Expenses)	14.55	5.24	5.67	4.27
EBT Excluding Unusual Items	11.84	181.09	11.39	240.53
Gain (Loss) on Sale of Investments	-139.31	122.92	6.99	11.36
Pretax Income	-127.47	304.02	18.38	251.89
Income Tax Expense	21.96	22.31	15.99	18.17
Earnings From Continuing Operations	-149.43	281.71	2.39	233.72
Minority Interest in Earnings	-9.82	-31.93	-16.54	-24.26
Net Income	-159.25	249.78	-14.15	209.46
Net Income to Common	-159.25	249.78	-14.15	209.46
Net Income Growth	-	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	-	-134.68	292.92	83.78
Gross Margin	24.74%	29.62%	10.33%	54.84%
Operating Margin	0.18%	21.15%	-4.32%	47.32%
Profit Margin	-20.98%	32.76%	-3.11%	40.86%
Free Cash Flow Margin	-	-17.66%	64.31%	16.34%
EBITDA	56.16	163.55	-16.91	245.35
EBITDA Margin	7.40%	21.45%	-3.71%	47.86%
D&A For EBITDA	54.81	2.3	2.78	2.76
EBIT	1.35	161.25	-19.69	242.59
EBIT Margin	0.18%	21.15%	-4.32%	47.32%
Effective Tax Rate	-	7.34%	86.99%	7.21%
Revenue as Reported	759.12	762.51	455.5	512.66

SEC Filings: 10-K · 10-Q