Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Based on: 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
- Net Revenue
- Net revenue exhibited fluctuations with a general downward trend from 19,828 million USD in March 2020 to 12,667 million USD in March 2025. Notable decreases occurred in mid-2022 and early 2023, followed by modest recoveries later in 2023 and early 2024.
- Cost of Sales
- Cost of sales varied over the periods but generally followed the declining revenue pattern. Despite some volatility, costs peaked around late 2024, notably at 11,287 million USD, before decreasing again towards Q1 2025.
- Gross Margin
- Gross margin showed a downward trend, declining from 12,016 million USD in Q1 2020 to substantially lower figures after 2021, with occasional negative impacts evident in late 2024. Gross margins suffered significant pressure parallel to revenue declines and cost fluctuations.
- Research and Development Expenses
- R&D expenses increased moderately from 3,275 million USD in Q1 2020 to a peak near 4,400 million USD in late 2021 and early 2022. Subsequently, these expenses slightly declined but remained relatively stable, reflecting continuous investment in innovation despite overall revenue pressures.
- Marketing, General and Administrative Expenses
- Marketing, general, and administrative expenses stayed relatively consistent with minor fluctuations, ranging generally between 1,200 and 1,900 million USD. There was no clear directional trend over the entire period, indicating controlled operating overheads.
- Restructuring and Other Charges
- This category showed significant volatility, with substantial charges recorded in early 2021 (-2,209 million USD) and notable positive reversals and charges in other quarters, including a steep charge in late 2024 (-5,622 million USD). The irregular pattern suggests ongoing restructuring activities and occasional gains or reversals affecting earnings.
- Operating Expenses
- Operating expenses (including R&D, marketing, and restructuring) generally increased until 2021 but displayed inconsistent patterns thereafter. A particularly sharp spike occurred in late 2024, largely due to restructuring charges, reflecting increased cost pressures and operational adjustments.
- Operating Income (Loss)
- Operating income declined markedly over the period, with strong positive income in 2020 and 2021 followed by losses beginning in early 2022. Operating losses worsened significantly in late 2024 (-9,057 million USD), indicating substantial operational challenges and declining profitability.
- Gains (Losses) on Equity Investments, Net
- Gains and losses on equity investments were uneven, with notable spikes of gains in late 2020 and early 2022. However, these gains were inconsistent and occasionally went negative, reducing their reliability as a profit buffer.
- Interest and Other, Net
- Interest and other income/expenses fluctuated without a clear trend, including gains in early 2022 and minor losses in most other periods. These amounts were relatively small compared to operating income or losses.
- Income Before Taxes
- Income before taxes followed operating income trends, starting with consistent profit through 2021 and then shifting to losses notably starting in 2022. The largest declines occurred in late 2024, with a substantial net loss before taxes.
- Provision for Taxes
- Tax provisions varied greatly, with some quarters showing tax benefits and others large tax expenses, particularly extreme negative tax provisions in late 2024. This volatility likely reflects fluctuating taxable income and potential adjustments related to losses.
- Net Income (Loss)
- Net income mirrored operating and pre-tax income trends, with positive earnings through 2021, followed by sharp declines and losses particularly in late 2024. The worst net loss was observed in this period (-16,639 million USD attributable to Intel), reflecting operating difficulties and restructuring impacts.
- Net Income Attributable to Non-controlling Interests
- Amounts attributable to non-controlling interests remained minor and fluctuated around zero, contributing insignificantly to overall profitability.
- Summary
- The overall financial trend depicts a company experiencing declining revenues, rising costs in key areas such as restructuring, and diminishing profitability over a five-year period. While investments in research and development remained steady, operating income and net income suffered significant erosion, particularly in 2024, due in large part to high restructuring charges and operational challenges. The financial data implies the company is undergoing a period of transformation with considerable impact on short-term financial performance.