AI Takeaway
DD reported a sharp swing to a net loss of $779M in FY2025 despite modest 1.9% revenue growth to $6.85B, driven by a dramatic $41.1% contraction in total assets reflecting a major corporate restructuring or divestiture.
Revenue
$6.85B
++1.93% YoY
EPS (Basic)
$-1.87
-211.31% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Revenue grew 1.9% year-over-year to $6.85B in FY2025 from $6.72B in the prior year, suggesting the core business maintained modest top-line momentum even as the company underwent significant balance sheet transformation.
Source: Source: 10-K Income Statement
Net income collapsed from a profit of $703M to a loss of $779M, a deterioration of over $1.48B year-over-year (-210.8%), likely driven by impairment charges, restructuring costs, or losses on divestitures rather than operational deterioration given stable revenues.
Source: Source: 10-K Income Statement
Total assets fell 41.1% from $36.64B to $21.58B, with current assets plunging 73.2% from $20.78B to $5.58B, strongly indicating a major divestiture, spin-off, or asset sale completed during FY2025.
Source: Source: 10-K Balance Sheet
2 more insights available
Upgrade to unlockThe dramatic swing to a $779M net loss alongside a 41.1% reduction in total assets suggests DD underwent a major corporate restructuring or divestiture in FY2025. The reconfigured business faces uncertainty around its standalone earnings power and whether remaining operations can return to profitability.
Source: Source: 10-K Income Statement & Balance Sheet
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Upgrade to unlockReported EPS of $1.38 versus the $1.33 analyst consensus — a +3.5% beat for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $6.85B | $6.72B | +1.93% |
Cost of Revenue | $4.49B | $4.5B | -0.29% |
Net Income | $-779M | $703M | -210.81% |
EPS (Basic) | $-1.87 | $1.68 | -211.31% |
EPS (Diluted) | $-1.86 | $1.68 | -210.71% |
R&D Expense | $193M | $203M | -4.93% |
SG&A Expense | $1.02B | $976M | +4.41% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $21.57B | $36.64B | -41.11% |
Current Assets | $5.58B | $20.77B | -73.16% |
Total Liabilities | $7.47B | $12.84B | -41.82% |
Current Liabilities | $2.31B | $5.5B | -58.06% |
Stockholders' Equity | $13.92B | $23.35B | -40.39% |
Cash & Equivalents | $715M | $1.79B | -60.10% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Dividends Paid | $597M | $635M | -5.98% |
D&A | $647M | $635M | +1.89% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Margin | -11.4% | — | — |
ROE | -5.6% | — | — |
ROA | -3.6% | — | — |
Current Ratio | $2.419 | — | — |
Debt to Equity | $0.537 | — | — |
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DD reported a net loss of $779M in FY2025 compared to a profit of $703M in the prior year, a swing of over $1.48B. The most likely driver is non-cash charges such as asset impairments or losses on divestitures, given that revenue actually grew 1.9% and cost of revenue declined slightly, suggesting the core business remained relatively stable.
DD's total assets fell dramatically by 41.1% from $36.64B to $21.58B, with current assets plunging 73.2% from $20.78B to $5.58B. This sharp contraction strongly suggests a major divestiture, spin-off, or asset sale was completed during FY2025, fundamentally reshaping the company's size and structure.
DD paid $597M in dividends in FY2025 despite reporting a net loss of $779M, meaning the dividend was funded from the balance sheet rather than earnings. This raises legitimate questions about dividend sustainability, as the company's cash balance also fell 60.1% to just $715M during the year.
DD's revenue grew modestly by 1.9% to $6.85B in FY2025 from $6.72B in the prior year. This suggests the underlying business maintained top-line momentum, even as the company's overall financial results were significantly impacted by what appears to be restructuring-related charges.
DD's short-term liquidity appears solid with a current ratio of 2.42x and a conservative debt-to-equity of 0.54x, but cash fell sharply to $715M and the company posted negative ROE of -5.6% and ROA of -3.6%. The company's financial health is in transition following what appears to be a major restructuring, and a return to profitability will be key to restoring investor confidence.