Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Abbott Laboratories pages available for free this week:
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Abbott Laboratories for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Abbott Laboratories, common-size consolidated income statement (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
The common-size income statement reveals several noteworthy trends in the company’s financial performance between March 2021 and December 2025. A consistent pattern emerges in the cost structure, while profitability exhibits fluctuations influenced by both gross margin and operating expenses. Revenue remained consistently at 100% throughout the period, allowing for a focused analysis of expense and profit margins.
- Cost of Goods Sold
- Cost of products sold, excluding amortization, generally increased as a percentage of net sales from 42.09% in March 2021 to 45.52% in December 2021. This trend continued into 2022, peaking at 45.03% in September 2022, before decreasing to 42.95% by December 2025. Amortization of intangible assets followed a similar decreasing trend, moving from 4.87% in March 2021 to 3.68% in December 2025. The combined effect of these costs resulted in a relatively stable gross profit margin, despite fluctuations.
- Gross Profit
- Gross profit as a percentage of net sales demonstrated variability. It began at 53.04% in March 2021, decreased to a low of 46.68% in June 2021, and then recovered to 54.77% in September 2021. Throughout 2022 and 2023, the gross profit margin generally declined, reaching a low of 49.57% in December 2022. A recovery was observed in 2024 and 2025, with the gross profit margin reaching 53.36% in December 2025.
- Operating Expenses
- Research and development expenses remained relatively stable, fluctuating between approximately 6% and 8% of net sales. However, selling, general, and administrative expenses exhibited a more pronounced increase, rising from 26.62% in March 2021 to 29.46% in December 2021. This upward trend continued into 2022, peaking at 29.70% in March 2023, before decreasing to 27.31% in December 2025. These expense trends significantly impacted operating earnings.
- Operating and Net Earnings
- Operating earnings as a percentage of net sales mirrored the fluctuations in gross profit and operating expenses. It started at 20.17% in March 2021, decreased to 12.92% in December 2021, and then fluctuated between 13.78% and 19.64% through December 2025. Interest expense remained relatively consistent, around 1% to 1.6% of net sales. Interest income showed an increasing trend, rising from 0.11% in March 2021 to 0.87% in December 2022, before decreasing to 0.68% in December 2025. Net earnings followed a similar pattern to operating earnings, ranging from 10.24% to 20.58% over the analyzed period.
- Other Income and Taxes
- Other income (expense), net, showed considerable variability, with positive contributions in most periods, peaking at 1.76% in June 2023. Taxes on earnings generally ranged between 2% and 5% of net sales, with a significant outlier in December 2024 at 65.60%, which dramatically impacted net earnings for that quarter. This appears to be an anomaly and requires further investigation. Net foreign exchange gain (loss) was relatively small, with fluctuations between gains and losses.
In summary, the company experienced fluctuations in profitability driven by changes in cost of goods sold and operating expenses. While gross profit margins showed some recovery in recent periods, operating expenses remained a significant factor. The anomalous tax expense in December 2024 warrants further scrutiny. Overall, the company demonstrated a degree of resilience, maintaining positive operating and net earnings throughout the analyzed period.