Andersen (ANDG) financial statements
Andersen reported revenue of $839M in fiscal 2025, up 14.6% a year over 2 years.
Net income was -$2M and the operating margin -16.1%, against 18.3% in 2023.
Free cash flow was $174M, and the company returned $212M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Andersen's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $639M | $732M | $839M |
| Cost of revenue | $400M | $462M | $595M |
| Gross profit | $239M | $270M | $244M |
| Selling, general and admin | $115M | $132M | $177M |
| Operating income | $117M | $130M | -$135M |
| Interest expense | $138,000 | $64,000 | $1M |
| Pre-tax income | $121M | $137M | -$127M |
| Income tax | $2M | $2M | $3M |
| Net income | $119M | $135M | -$2M |
| Gross margin | 37.4% | 36.9% | 29.0% |
| Operating margin | 18.3% | 17.7% | -16.1% |
| Net margin | 18.6% | 18.4% | -0.3% |
Balance sheet
Fiscal years, from Andersen's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $2M | $3M | $3M |
| Receivables | $109M | $118M | $123M |
| Total current assets | — | $246M | $412M |
| Property, plant and equipment | — | $33M | $36M |
| Goodwill | — | $30M | $30M |
| Total assets | — | $399M | $565M |
| Total current liabilities | — | $94M | $196M |
| Total liabilities | — | $202M | $594M |
| Shareholders' equity | — | — | -$135M |
| Net debt | -$72M | -$88M | -$250M |
Cash flow
Fiscal years, from Andersen's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | $118M | $152M | $185M |
| Capital spending | $5M | $9M | $10M |
| Free cash flow | $113M | $144M | $174M |
| Stock-based compensation | $0 | $0 | $147M |
| Dividends paid | — | — | $212M |
| Free cash flow margin | 17.7% | 19.6% | 20.8% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ANDG.
Open ANDG in InvestinglyQuestions
What was Andersen's revenue in 2025?
$839M in fiscal 2025, from its 10-K filing.
How much free cash flow does Andersen generate?
$174M in fiscal 2025 (operating cash flow minus capital spending).
From Andersen's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.