Common-Size Income Statement
Quarterly Data
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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Abbott Laboratories, common-size consolidated income statement (quarterly data)
Based on: 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), 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).
- Gross Profit
- The gross profit margin demonstrated fluctuation over the period, ranging mostly between approximately 47% and 54% of net sales. It showed a tendency to decline in mid-2020, recovering somewhat in the following quarters, and stabilized near the 50% mark in recent periods. This indicates some variability in production costs or pricing strategy but maintains a broadly consistent profitability at the gross margin level.
- Cost of Products Sold
- The cost of products sold, excluding intangible asset amortization, consistently accounted for about 40% to 48% of net sales, with periodic increases around mid-year 2020 and stability thereafter. The amortization of intangible assets steadily declined as a percentage of net sales over time, falling from above 7% early in the period to below 4% toward the end. Together, these components reflect a generally controlled or slightly improving cost structure relative to revenues.
- Operating Expenses
- Research and development (R&D) expenses fluctuated between roughly 6% and 7.7% of net sales, showing no clear upward or downward trend but maintaining a significant investment level in innovation and product development. Selling, general, and administrative (SG&A) expenses exhibited variability, dropping to as low as 23% and climbing up to nearly 33% of net sales at various points, indicating fluctuating administrative and marketing cost efficiency or strategic changes in expense allocation.
- Operating Earnings
- Operating earnings showed considerable variation across quarters, ranging from just under 10% to above 22% of net sales early on, followed by oscillations between approximately 13% and 24%. The data suggest fluctuating operational efficiency and profitability but generally indicate a positive operating performance with margins predominantly above 15% in recent quarters.
- Interest and Other Income/Expenses
- Interest expense remained relatively stable around 1% to 1.8% of net sales, with a slight downward trend in recent periods. Interest income saw a gradual increase, rising from near zero to above 1% in some quarters, potentially reflecting improved investment income or cash management. Other income (expense), net, was generally positive and trending upward, signifying gains from non-core activities or effective management of other financial items.
- Earnings Before Taxes and Taxes
- Earnings before taxes aligned closely with operating earnings but showed declines aligned with periods of higher interest or expense impact. The tax rate exhibited notable variability; most quarters reflected taxes between -1% and -4% of net sales, but an extreme outlier occurred with a positive tax value exceeding 65% of net sales in one quarter, likely due to a nonrecurring event or accounting adjustment. This anomaly disrupts an otherwise consistent tax burden ratio.
- Net Earnings
- Net earnings tracked the trend in earnings from continuing operations, maintaining a general range from around 7% to over 20% across most quarters. The data revealed notable volatility, with net earnings dropping to as low as about 10% in certain quarters but achieving a remarkable peak at 84% in one quarter, presumably influenced by special items or tax effects. Excluding this outlier, the company appeared to sustain steady net profitability with some fluctuation reflecting operational and market conditions.
- Overall Trends and Insights
- The financial data reveal a company managing its cost structure effectively, with gross profit margins largely stable around 50%. Operating efficiencies, reflected in operating earnings, show moderate volatility but an overall resilient profitability. Investment in R&D remains consistent, underlining a sustained focus on innovation. The interest and other income components contribute positively to financial results. The significant anomalies in tax expense and net earnings during one quarter highlight the presence of unusual or one-time accounting events affecting comparability. The company’s financial performance indicates a generally stable and profitable operation with attention needed to investigation or disclosure of extraordinary items impacting certain quarters.