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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Walgreens Boots Alliance Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).
The financial data over the observed quarters reveal a series of fluctuations and notable trends across multiple metrics. Sales experienced an overall upward trend, with a marked increase from November 2013 through February 2020, although some quarters displayed minor declines. The cost of sales generally tracked sales upward, reflecting growing operational scale, but with persistent expenses limiting gross profit growth. Gross profit showed moderate volatility but maintained a broadly stable pattern, indicating some margin pressure amid rising costs.
Selling, general, and administrative expenses consistently increased over the periods, suggesting either expansion efforts or rising operational costs. This increase was most pronounced in the latest quarter available, pointing toward intensified spending in that timeframe.
Equity earnings from AmerisourceBergen showed variability, with some quarters registering losses but generally positive contributions in many periods, indicating fluctuating returns from this investment. Equity earnings from Alliance Boots were initially positive but the data becomes unavailable in later quarters, preventing trend assessment.
Operating income showed fluctuations with a generally positive trend, peaking during certain quarters but also declining sharply in others, notably in the final period where it recorded a significant loss. This suggests volatility in core profitability.
Other income and expense items were erratic, with both gains and losses recorded. The gain on previously held equity interest appeared as a one-time significant positive impact in an earlier period but was not recurring. Interest expense was relatively stable with modest increases reflecting sustained debt levels.
Earnings before interest and income tax displayed an inconsistent pattern with no clear sustained growth, affected by both operational results and other income/expense elements.
Tax provisions varied significantly, with some quarters reporting benefits and others substantial charges, adding to fluctuations in net profitability. Post-tax earnings from other equity method investments were minor and inconsistent, providing limited influence on overall results.
Net earnings exhibited considerable variation, with strong profits in many quarters offset by sharp losses in others, especially the latest available period which recorded a substantial loss. Net earnings attributable to the entity followed a similar pattern, reflecting the volatility in core business performance and external factors influencing profitability.
- Sales and Cost Trends
- Sales increased overall, with cost of sales rising accordingly, limiting gross profit margin improvements.
- Expense Patterns
- Selling, general, and administrative expenses increased steadily, notably spiking in the final quarter analyzed.
- Equity Earnings
- Equity earnings from AmerisourceBergen fluctuated widely; data for Alliance Boots ceased, complicating trend analysis.
- Operating Income
- Operating income showed volatility, with occasional peaks but also significant losses, reflecting inconsistent operational profitability.
- Other Income and Interest
- Other income/expenses were irregular; interest expense rose modestly but remained relatively stable.
- Pre-Tax Earnings and Taxes
- Earnings before tax were inconsistent, and tax provisions varied widely, impacting net earnings sharpness.
- Net Earnings
- Net earnings were volatile, including periods of strong profits and steep losses, culminating in a significant net loss in the latest quarter.