Common-Size Income Statement
Quarterly Data
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Charter Communications Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Price to Earnings (P/E) since 2010
- Analysis of Revenues
- Aggregate Accruals
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Charter Communications Inc., common-size consolidated income statement (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
The financial data reveals several notable trends across the quarters analyzed.
- Operating Costs and Expenses
- Operating costs and expenses as a percentage of revenues generally declined over the period. Starting around -64.57%, a gradual improvement trend is visible, reaching a lower range near -60.46% by the end of the analyzed timeframe. This suggests enhanced cost management or operational efficiencies.
- Gross Profit
- Gross profit margin exhibits a positive trajectory overall, increasing from approximately 35.43% initially to about 39.54% in the last quarter. This improvement aligns with the reduction in operating costs and expenses relative to revenues, reflecting better profitability at the gross level.
- Depreciation and Amortization
- The ratio of depreciation and amortization to revenues demonstrated a consistent downward trend, decreasing from around -22.76% to roughly -15.96% over the quarters. This decline may indicate either lower capital expenditures or improved asset utilization.
- Other Operating Income (Expense), Net
- Other operating income and expenses fluctuated with some volatility and generally maintained near zero or slightly negative levels. Occasional quarters stand out with larger negative impacts, for example, around -2.41%, and intermittent positive spikes, reflecting variability in non-core operating activities.
- Income from Operations
- Operating income as a percentage of revenues shows a steady increase, rising from about 12.72% in early periods to roughly 23.83% by the end. This growth implies significant improvements in operating profitability, driven by cost control and gross profit enhancements.
- Interest Expense, Net
- Interest expense relative to revenues remains relatively stable but exhibits a mild upward trend in cost, moving from approximately -8.25% to around -9.62%. This suggests slightly increasing financing costs or higher leverage levels impacting the interest burden.
- Other Income (Expense), Net
- Variations in other income (expense), net were marked by significant fluctuation, with values swinging between positives and negatives, including notable negative impacts such as -2.78% and -2.28% in several quarters. This volatility could reflect fluctuating gains or losses from non-operational sources.
- Income Before Income Taxes
- Pre-tax income margin shows a positive upward progression, starting around 3.89% and rising to levels near 13% toward the latter periods. This indicates improved overall profitability before tax obligations.
- Income Tax Expense
- Income tax expense as a percentage of revenues fluctuated but generally increased from a low near -1.06% to levels around -3.0% in later quarters, possibly reflecting higher taxable income or changes in tax rates or policies.
- Consolidated Net Income
- Consolidated net income margins increased significantly during the observed period, rising from approximately 2.83% to a peak near 13.88% before settling around 8.96%. This highlights improved bottom-line profitability, albeit with some variability in the latest quarters.
- Net Income Attributable to Noncontrolling Interests
- Net income attributable to noncontrolling interests remained negative throughout, ranging between roughly -0.57% and -1.74%, indicating consistent allocation of losses or expenses to minority interests.
- Net Income Attributable to Charter Shareholders
- Net income attributable to Charter shareholders exhibited an upward trend, moving from about 2.26% to a peak of 12.19%, followed by a decrease to approximately 7.72% in the final periods. This pattern reflects improving shareholder profitability with cyclical fluctuations.
In summary, the data indicates overall operational improvement marked by higher gross and operating margins, decreased depreciation pressure, and stronger profitability both before and after tax. However, interest expense is slightly rising and other income components remain volatile. The net income attributable to shareholders grows significantly but shows some recent moderation, suggesting ongoing variability in earnings quality or external influences.