Models
Source: Visible Alpha consensus via S&P Xpressfeed · Consensus as of 2026-07-16 · generated 2026-07-19.
Model trust
Base currency: USD · VA scales normalized from Abs, M; item currencies and units retained · Coverage depth and vintage; broker count is the maximum represented.
| Brokers | Line items | Last revision |
|---|---|---|
| 13 | 378 | 2026-07-16 |
Operating KPIs
Base currency: USD · VA scales normalized from Abs, M; item currencies and units retained · FY-1A / FY0E / FY+1E; broker count shown per KPI.
| Operating KPI | Source | FY-1A | FY0E | FY+1E | Brokers |
|---|---|---|---|---|---|
| Accounts and other receivables | CD | 102,377.12bn Amount | 80,077.04bn Amount | 78,420.17bn Amount | 13 |
| Accounts payable | CD | 111,599.17bn Amount | 91,402.30bn Amount | 109,854.10bn Amount | 13 |
| Capital expenditure | CD | 27,737.13bn Amount | 26,910.45bn Amount | 30,996.45bn Amount | 13 |
| Changes in Deferred revenue | CD | 252,531.44bn Amount | 237,852.39bn Amount | 245,314.16bn Amount | 13 |
| Changes in Other operating assets and liabilities | CD | -86,899.46bn Amount | 26,151.56bn Amount | 48,545.09bn Amount | 13 |
| Changes in Prepaid domain name registry fees | CD | -44,009.68bn Amount | -23,484.43bn Amount | -12,718.62bn Amount | 13 |
| Changes in working capital | CD | 126,894.82bn Amount | 305,364.06bn Amount | 337,167.44bn Amount | 13 |
| Cost of revenue (excluding depreciation and amortization) | CD | 1,803,454.00bn Amount | 1,893,686.94bn Amount | 2,006,724.16bn Amount | 13 |
| Current portion of long term debt | CD | 15,609.33bn Amount | 15,163.49bn Amount | 15,214.45bn Amount | 13 |
| Deferred revenue | CD | 2,414,232.46bn Amount | 2,547,828.91bn Amount | 2,732,982.75bn Amount | 13 |
| Deferred revenue, net of current portion | CD | 950,146.48bn Amount | 988,355.07bn Amount | 1,041,664.93bn Amount | 13 |
| Depreciation and amortization | CD | 120,699.89bn Amount | 102,397.30bn Amount | 102,208.15bn Amount | 13 |
P&L bridge
Base currency: USD · VA scales normalized from Abs, M; item currencies and units retained · Margins are derived against revenue; YoY compares adjacent fiscal columns; broker count shown per line.
| P&L line | FY-1A | FY0E | FY+1E | Brokers |
|---|---|---|---|---|
| Revenue | 4,946,623.00bn Amount | 5,245,232.86bn Amount (6.0% YoY) | 5,543,862.01bn Amount (5.7% YoY) | 13 |
| Gross Profit | 3,144,045.58bn Amount (63.6% margin) | 3,352,541.58bn Amount (63.9% margin; 6.6% YoY) | 3,538,142.39bn Amount (63.8% margin; 5.5% YoY) | 13 |
| Ebitda | 1,573,835.09bn Amount (31.8% margin) | 1,751,095.62bn Amount (33.4% margin; 11.3% YoY) | 1,891,982.67bn Amount (34.1% margin; 8.0% YoY) | 13 |
| Operating Income | 1,119,516.99bn Amount (22.6% margin) | 1,321,440.04bn Amount (25.2% margin; 18.0% YoY) | 1,458,062.56bn Amount (26.3% margin; 10.3% YoY) | 12 |
| Net Income | 848,211.69bn Amount (17.1% margin) | 929,876.49bn Amount (17.7% margin; 9.6% YoY) | 1,069,467.15bn Amount (19.3% margin; 15.0% YoY) | 13 |
| Eps | 6.03 Amount | 7.05 Amount (16.9% YoY) | 8.57 Amount (21.5% YoY) | 13 |
Consensus dispersion
The disagreement sits in margin and per-share conversion rather than the top line, so the open question is how much operating leverage the revenue mix actually delivers.
Base currency: USD · VA scales normalized from Abs, M; item currencies and units retained · Top high-low spreads relative to absolute mean; requires at least 3 brokers.
| Line item | Period | Mean | Min | Q1 | Q3 | Max | Spread / mean | Brokers |
|---|---|---|---|---|---|---|---|---|
| Changes in Other operating assets and liabilities | FY-2028 | -30.83bn Amount | -79,707.21bn Amount | -27,747.47bn Amount | 29,054.82bn Amount | 90,000.00bn Amount | 550505.9% | 8 |
| Changes in Deferred revenue | 4QFY-2025 | 1,231.44bn Amount | -95,310.37bn Amount | -39,559.90bn Amount | 22,908.81bn Amount | 160,522.40bn Amount | 20775.0% | 11 |
| Changes in Prepaid domain name registry fees | 3QFY-2025 | -1,328.41bn Amount | -21,294.51bn Amount | -9,876.33bn Amount | -145.89bn Amount | 41,612.07bn Amount | 4735.5% | 8 |
| Changes in Prepaid domain name registry fees | 4QFY-2025 | -1,938.31bn Amount | -45,316.30bn Amount | -16,409.83bn Amount | 9,093.76bn Amount | 42,624.36bn Amount | 4537.0% | 8 |
| Changes in working capital | 4QFY-2025 | 5,822.10bn Amount | -172,336.95bn Amount | -1,312.31bn Amount | 40,672.79bn Amount | 45,617.76bn Amount | 3743.6% | 11 |
| Changes in Deferred revenue | 4QFY-2026 | -5,219.01bn Amount | -69,220.94bn Amount | -35,084.08bn Amount | 5,272.30bn Amount | 115,000.00bn Amount | 3529.8% | 13 |
Quarterly path
Base currency: USD · VA scales normalized from Abs, M; item currencies and units retained · Next four supplied quarters; final column is maximum broker coverage in the row.
| Quarter | Accounts and other receivables | Accounts payable | Capital expenditure | Changes in Deferred revenue | Changes in Other operating assets and liabilities | Total revenue | EPS Diluted, Applicable to common stockholders($) | Broker coverage |
|---|---|---|---|---|---|---|---|---|
| 3QFY-2026 | 88,231.77bn Amount | 92,687.29bn Amount | 7,992.61bn Amount | 32,297.28bn Amount | 11,217.06bn Amount | 1,328,804.10bn Amount | 1.80 Amount | 13 |
| 4QFY-2026 | 80,077.04bn Amount | 91,402.30bn Amount | 7,591.23bn Amount | -5,219.01bn Amount | 22,036.89bn Amount | 1,355,232.49bn Amount | 1.98 Amount | 13 |
| 1QFY-2027 | 85,499.90bn Amount | 107,533.84bn Amount | 7,460.95bn Amount | 126,870.46bn Amount | 22,281.13bn Amount | 1,339,890.91bn Amount | 1.92 Amount | 9 |
| 2QFY-2027 | 86,458.19bn Amount | 107,932.04bn Amount | 7,923.99bn Amount | 81,113.23bn Amount | 13,679.51bn Amount | 1,366,574.87bn Amount | 2.01 Amount | 9 |
100 stale period values omitted; 7 line items fully removed.