DuPont de Nemours Inc. (NYSE:DD)

The financial data reveals several notable trends in the company's performance over the five-year period analyzed. Net sales experienced fluctuations, initially declining slightly from US$48,778 million in 2015 to US$48,158 million in 2016, followed by a significant increase to US$62,484 million in 2017 and peaking at US$85,977 million in 2018, before sharply decreasing to US$21,512 million in 2019. Corresponding with sales trends, the cost of sales exhibited a similar pattern, with increases until 2018 and a notable decline in 2019, maintaining a consistent gross margin, although it dropped significantly in the final year. The gross margin peaked at US$20,644 million in 2018 but was reduced to US$7,456 million in 2019, indicating decreased profitability at the gross level.

Operating expenses, including research and development (R&D), selling, general and administrative (SG&A) expenses, amortization of intangibles, restructuring and asset-related charges, and integration costs, generally increased over the years until 2018. R&D expenses increased from US$1,598 million in 2015 to US$3,060 million in 2018 before falling to US$955 million in 2019. Similarly, SG&A expenses rose substantially from US$2,971 million in 2015 to US$6,709 million in 2018, then decreased to US$2,663 million in 2019. Amortization of intangibles also increased steadily, peaking at US$1,903 million in 2018 and declining to US$1,050 million in 2019. Restructuring and asset-related charges spiked in 2017 but declined sharply afterward. Goodwill impairment charges appeared in 2017 and 2019, suggesting asset write-downs that negatively affected earnings. Integration and separation costs were also notable in 2017 through 2019, indicating ongoing corporate restructuring costs.

Operating income displayed high volatility. An initial drop occurred from US$5,539 million in 2015 to US$545 million in 2017, followed by a recovery to US$5,404 million in 2018 and a decline to a loss of US$43 million in 2019. This volatility reflects the combined effect of fluctuating sales, cost control challenges, and significant restructuring and impairment charges.

Equity earnings from nonconsolidated affiliates increased overall, peaking at US$1,001 million in 2018 before declining to US$84 million in 2019. Sundry income decreased markedly from US$4,663 million in 2015 to US$153 million in 2019, reducing supplementary sources of income. Interest expense rose through most of the period, reaching US$1,504 million in 2018 before falling to US$668 million in 2019, impacting net income prospects.

Income from continuing operations before income taxes mirrored the operating income trend, with a low point at US$1,193 million in 2017, recovery in 2018, and a loss in 2019. The provision for income taxes was erratic, with a positive tax benefit in 2017 but charges in other years, dampening net earnings stability.

Net income from continuing operations showed a declining trend from its maximum of US$7,783 million in 2015 to a loss of US$614 million in 2019. Income from discontinued operations contributed minimally throughout, with a small gain reported in 2019. Total net income followed a similar downward pattern, falling drastically by 2019 to US$600 million.

Net income attributable to the company and, more specifically, to common stockholders decreased sharply over the period, from US$7,345 million in 2015 to US$498 million by 2019. Dividends on preferred stock were paid only in 2015 and 2016.

Overall, the financial data indicates a period of growth and expansion until 2018, accompanied by increasing operational costs and restructuring activities. However, the sharp decline in sales and profitability in 2019, coupled with impairment charges and a loss at the operating level, signals significant challenges impacting financial performance and shareholder returns in the most recent year.