v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Total revenues      
Total revenues $ 2,725.4 $ 2,565.0 $ 2,414.7
Operating expenses:      
Total cost of revenues 361.8 319.3 282.6
Research and development 456.7 394.9 368.9
Selling and marketing 947.0 862.9 747.1
General and administrative 128.8 111.9 117.0
Total operating expenses 1,894.3 1,689.0 1,515.6
Operating income 831.1 876.0 899.1
Financial income, net 114.0 96.1 76.5
Income before taxes on income (tax benefit) 945.1 972.1 975.6
Taxes on income (tax benefit) (111.8) 126.4 135.3
Net income $ 1,056.9 $ 845.7 $ 840.3
Basic earnings per ordinary share $ 9.85 $ 7.65 $ 7.19
Number of shares used in computing basic earnings per share 107,264,069 110,617,625 116,913,913
Diluted earnings per ordinary share $ 9.62 $ 7.46 $ 7.1
Number of shares used in computing diluted earnings per share 109,913,789 113,406,896 118,347,749
Products and licenses      
Total revenues      
Total revenues $ 548.2 $ 507.9 $ 497.4
Operating expenses:      
Total cost of revenues [1] 105.8 97.8 99.3
Security subscriptions      
Total revenues      
Total revenues 1,219.0 1,104.2 981.2
Operating expenses:      
Total cost of revenues [1] 90.9 72.6 57.0
Software updates and maintenance      
Total revenues      
Total revenues 958.2 952.9 936.1
Operating expenses:      
Total cost of revenues [1] 132.6 123.9 112.3
Amortization of technology      
Operating expenses:      
Total cost of revenues $ 32.5 $ 25.0 $ 14.0
[1] Not including amortization of technology shown separately.