Common-Size Income Statement
Quarterly Data
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Alphabet Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cost of Revenues
- The cost of revenues as a percentage of total revenues exhibits moderate fluctuations over the reported periods. From early 2020 through 2025, it generally ranges between approximately 40% and 48%, with a gradual downward trend observable from mid-2023 onward, reaching a low around 40.3% by the first quarter of 2025. This suggests a slight improvement in cost efficiency or product/service mix over time.
- Gross Profit
- Gross profit consistently remains above 50% of revenues throughout the periods, with a clear upward trend in recent years. Starting near 54% in 2020, gross profit peaks near 59.7% by the first quarter of 2025, indicating enhanced profitability at the gross margin level. The improvement aligns with the decreasing trend in the cost of revenues percentage.
- Research and Development (R&D)
- R&D expenses as a percentage of revenues show variability but maintain a generally narrow band between about 12% and 16%. Initial quarters in 2020 demonstrate a decreasing trend, which reverses somewhat beginning 2022, showing increased R&D intensity in some quarters, particularly a spike near 16.43% in early 2023. This may reflect cyclical investment strategies or project timing.
- Sales and Marketing
- The sales and marketing expense percentage of revenues fluctuates mostly between 6.8% and 11%. There is a noticeable declining trend from 2023 into the early 2025 period, with the percentage dropping below 7% in the latest quarter. This decline may imply improved marketing efficiency or a strategic shift in resource allocation.
- General and Administrative (G&A)
- G&A expenses show a downward trend overall, starting around 7% in early 2020 and moving toward lower single digits near 3.9% by early 2025. Some quarters experience minor reversals or increases (notably a rise above 6% in the final quarter of 2022), but the general pattern suggests tighter control or optimization of administrative costs over time.
- Income from Operations
- Operating income as a percentage of revenues exhibits significant positive momentum. Beginning at approximately 19% in early 2020, it peaks at over 33% by the first quarter of 2025. This improvement correlates with increased gross profit margins and controlled operating expenses, indicating strong operational leverage and profitability enhancements.
- Other Income (Expense), Net
- The net amount for other income and expenses shows considerable volatility. Early periods demonstrate both positive and negative swings, with some notably high positive spikes around 8.76% in early 2021 and a substantial 12.39% in the first quarter of 2025. These fluctuations suggest variability in non-core income sources such as investments, interest, or one-time events impacting overall income before taxes.
- Income Before Income Taxes
- Income before income taxes trends upward overall, reflecting operational and other income dynamics. After fluctuating in the 20–38% range during 2020-2022, the measure spikes significantly, reaching over 46% by the first quarter of 2025. This trend highlights robust pre-tax profitability enhancements in recent periods.
- Provision for Income Taxes
- The tax provision as a percentage of revenues generally fluctuates between 2% and 8%, with no clear upward or downward trend. Notable spikes occur sporadically, including a sharp increase to approximately 8% in early 2025. The variability may indicate changes in effective tax rate, tax planning strategies, or fiscal policies influencing reported tax expenses.
- Net Income
- Net income shows a positive upward trajectory overall, starting around 16.6% of revenues in early 2020 and increasing to 38.3% by the first quarter of 2025. Despite some volatility, especially during 2022, the pattern underscores significant growth in bottom-line profitability, supported by strong operational performance and other income contributions, albeit combined with variable tax effects.