Electrification generated about $5 billion in revenue in '22, and we now expect that number to be $13.5 billion to $14 billion in '26, and we are just getting started. Total backlog hit a record $150 billion at year-end 2025. That's not a quarterly number, that's a multi-year revenue runway already locked in.
Revenue hit $11 billion, beating the $10.3 billion estimate by roughly 7%. Free cash flow surged from .6 billion last Q4 to $1.8 billion this year. The company doubled its quarterly dividend to $0.50 and raised 2028 revenue guidance to $56 billion, up from prior expectations near $52 billion. Management projects cumulative free cash flow of $24 billion through 2028.