Stock Analysis on Net
Stock Analysis on Net

Altria Group Inc. (NYSE:MO)

Common-Size Income Statement

Altria Group Inc., common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net revenues 100.00 100.00 100.00 100.00 100.00
Cost of sales -25.40 -25.67 -27.37 -29.89 -28.22
Excise taxes on products -16.26 -17.56 -18.84 -20.31 -21.16
Gross profit 58.34% 56.77% 53.79% 49.80% 50.62%
Marketing, administration and research costs -11.18 -9.27 -9.35 -8.24 -8.86
Asset impairment and exit costs 0.00 0.00 0.00 0.02 -0.63
Operating income 47.16% 47.49% 44.44% 41.57% 41.12%
Interest expense -4.69 -4.49 -4.57 -4.68 -5.26
Interest income 0.65 0.28 0.10 0.05 0.17
Interest and other debt expense, net -4.04% -4.22% -4.47% -4.62% -5.10%
Loss on early extinguishment of debt 0.00 0.00 -2.49 0.00 0.00
Net periodic benefit income, excluding service cost 0.52 0.73 0.78 0.29 0.15
Income (losses) from investments in equity securities 0.99 -14.51 -22.98 -0.42 6.87
Impairment of JUUL equity securities 0.00 0.00 0.00 -9.94 -34.25
Loss on Cronos-related financial instruments 0.00 -0.06 -0.57 -0.54 -5.74
Earnings before income taxes 44.64% 29.44% 14.70% 26.34% 3.05%
(Provision) benefit for income taxes -11.43 -6.48 -5.19 -9.31 -8.22
Net earnings (losses) 33.21% 22.97% 9.51% 17.03% -5.17%
Net losses attributable to noncontrolling interests 0.00 0.00 0.00 0.05 0.02
Net earnings (losses) attributable to Altria 33.21% 22.97% 9.51% 17.08% -5.15%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Altria Group Inc. operating income as a percentage of net revenues increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Earnings before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Altria Group Inc. earnings before income taxes as a percentage of net revenues increased from 2021 to 2022 and from 2022 to 2023.
Net earnings (losses) attributable to Altria The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Altria Group Inc. net earnings (losses) attributable to Altria as a percentage of net revenues increased from 2021 to 2022 and from 2022 to 2023.