Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Best Buy Co. Inc. 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 Best Buy Co. Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Best Buy Co. Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
- Cost of Sales and Gross Profit Trends
- The cost of sales consistently represents a substantial portion of revenue, fluctuating mainly between approximately 74.6% and 79.8% over the periods analyzed. Notably, there is a tendency toward higher costs in early 2020 and 2021 quarters, reaching peaks near or above 79%. Correspondingly, gross profit margins, expressed as a percentage of revenue, inversely mirror this trend, generally ranging from about 20.2% to 25.4%. Lower gross profit margins appear in the quarters with increased cost of sales, notably during early 2020 and 2021, indicating margin compression during those times.
- Selling, General and Administrative Expenses Patterns
- Selling, general, and administrative expenses (SG&A) consistently consume a significant but variable share of revenue, generally ranging from about 13.98% to 21.13%. There is apparent fluctuation with notable reductions occurring in the first quarters of years 2017, 2018, 2019, 2020, and 2021, where SG&A expenses as a percentage of revenue are lower relative to other quarters. This seasonal or periodic decrease contributes positively to operating income in those intervals.
- Operating Income Fluctuations
- Operating income exhibits a cyclical pattern with peaks usually appearing in the first quarters of each year, reaching values above 6%, such as 6.53% in Jan 2017, 6.61% in Feb 2019, and 6.10% in Jan 2021. Lower operating income margins are more common in intermediate quarters, often in the range of 2.67% to 4.0%. This pattern suggests recurring operational efficiencies during certain periods, likely reflecting seasonality in business activities.
- Other Income and Expense Items
- Gains on sale of investments and investment income provide marginal positive contributions, typically less than 0.15% of revenue, with irregular occurrence across quarters. Interest expenses remain relatively stable and low, generally between -0.05% and -0.24% of revenue, trending downward over time, indicating potentially improved debt management or refinancing benefits. Other income (expense) items fluctuate mildly around zero with occasional slight positive or negative impacts on overall profitability.
- Income Taxes and Net Earnings
- Income tax expenses as a percentage of revenue display notable variability across the quarters, ranging from approximately -0.54% to -3.31%. Higher tax expenses are observed in select quarters such as early 2018 (Feb 2, 2019) and early 2017 (Jan 28, 2017). Net earnings from continuing operations follow a similar seasonal and cyclical pattern to operating income, with higher profitability in first quarters and comparatively lower margins in other periods. Overall, net earnings as a percentage of revenue range from roughly 1.86% to 6.19%, peaking notably in mid-2021 (Jul 31, 2021).
- Restructuring Charges and Special Items
- Restructuring charges are generally minor, fluctuating around zero, with sporadic positive or negative impacts usually below 1% of revenue. Their irregularity suggests occasional restructuring activities without a clear persistent trend. Gains from discontinued operations are minimal and infrequent, providing negligible impact on total net earnings.
- Overall Observations
- The data reveals a recurring seasonal pattern in profitability measures, particularly operating income and net earnings, with improved margins in the first quarters of each year. Cost control remains a critical factor influencing gross profit variability, with the cost of sales consistently dominating revenue allocation. Expense management, especially SG&A, appears responsive to cyclical trends, supporting operating income fluctuations. Interest expenses have trended downward slightly, benefiting net profitability. Income tax expense volatility contributes to fluctuations in net earnings. The financial performance reflects a business influenced by seasonality and cyclic operational efficiencies, with overall profitability margins maintaining moderate stability over time.