Common-Size Income Statement
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Abbott Laboratories, common-size consolidated income statement
Based on: 10-K (reporting date: 2024-12-31), 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).
- Cost of products sold and amortization trends
- The cost of products sold as a percentage of net sales slightly fluctuated between 2020 and 2024, starting at -43.35% in 2020, peaking at -44.82% in 2023, and marginally decreasing to -44.59% in 2024. Amortization of intangible assets consistently decreased from -6.16% in 2020 to -4.48% in 2024, indicating a reduction in amortization expenses relative to net sales over time.
- Gross profit margin
- Gross profit as a percentage of net sales experienced minor variations, increasing from 50.49% in 2020 to a high of 52.21% in 2021, then declining to 50.28% in 2023 before a slight recovery to 50.93% in 2024. This reflects overall stable gross profitability levels despite some yearly fluctuations.
- Research and development expenses
- Research and development expenses as a percentage of net sales exhibited a mild downward trend, decreasing from -6.99% in 2020 to a low of -6.37% in 2021, followed by moderate increases, ending at -6.78% in 2024. This suggests the company maintained relatively consistent investment in R&D relative to sales.
- Selling, general, and administrative expenses
- SG&A expenses showed a general decline from -28.02% in 2020 to -25.77% in 2022, indicating improved cost control in these areas, before rising again to -27.88% in 2024. Thus, there was some variability with a tendency toward a slight increase in the most recent years.
- Operating earnings dynamics
- Operating earnings as a percentage of net sales improved markedly from 15.48% in 2020 to a peak of 19.56% in 2021, then declined annually to 16.15% in 2023 with a marginal increase to 16.27% in 2024. This pattern points to an initial period of rising operating profitability followed by a moderation in later years.
- Interest and other financial items
- Interest expense decreased from -1.58% in 2020 to -1.24% in 2021, then generally fluctuated around -1.3% to -1.6%. Interest income, in contrast, grew significantly from 0.13% in 2020 to a peak of 0.96% in 2023, slightly declining to 0.82% in 2024. Net foreign exchange gains/losses remained close to zero throughout, indicating minimal impact from currency fluctuations. Other income increased steadily from 0.3% in 2020 to 1.19% in 2023, with a slight decline to 0.9% in 2024.
- Earnings before taxes and tax impact
- Earnings from continuing operations before taxes increased from 14.36% in 2020 to around 19.06% in 2021 and 2022, then declined to approximately 16.6% in 2023 and 2024. Taxes on earnings exhibited a noteworthy shift, rising from -1.44% in 2020 to -3.15% in 2022, then unexpectedly increasing sharply to 15.23% in 2024, indicating a significant tax expense or adjustment in that year.
- Net earnings performance
- Net earnings from continuing operations followed earnings before taxes trends but were notably affected by tax changes. Starting at 12.92% in 2020, net earnings rose to 16.42% in 2021, declined slightly to 14.27% in 2023, then surged remarkably to 31.95% in 2024. This substantial increase in 2024 suggests a nonrecurring event or significant operational improvement impacting net profitability.