Common-Size Income Statement
Quarterly Data
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Fair Isaac Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Analysis of Debt
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Fair Isaac Corp., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-K (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
- Revenue Composition Trends
- The proportion of revenues derived from on-premises and SaaS software demonstrated a generally declining trend over the observed periods, starting from 52.04% in late 2018 and decreasing to around 35.03% by mid-2025. This indicates a gradual reduction in dependence on this revenue segment. Simultaneously, the professional services share of revenues displayed a downward trend as well, declining from 15.29% to approximately 4.51% over the same time horizon, suggesting a decreased emphasis or lower demand in that area. Conversely, the scores segment exhibited a robust upward trajectory, increasing from 32.67% to nearly 60.46%, showing a strong growth orientation or increased sales within this category.
- Gross Profit and Cost of Revenues
- Cost of revenues as a percentage of revenues generally declined, enhancing gross profit margins. The cost of revenues percentage reduced from -29% in late 2018 to about -16.33% by mid-2025. Correspondingly, gross profit margins increased from 71% to an elevated 83.67%, reflecting improved cost efficiency or pricing strategies. This positive margin expansion suggests the company managed to control direct costs effectively while possibly benefiting from a favorable sales mix.
- Operating Expenses and Related Costs
- Research and development expenses showed a gradual reduction relative to total revenues, decreasing from roughly -13.51% to around -8.8%, potentially reflecting more efficient R&D spending or strategic realignment. Selling, general, and administrative expenses presented some fluctuations but overall declined from about -38.23% to approximately -25.93%, indicating better operational leverage and cost containment in administrative and sales efforts. Amortization of intangible assets decreased from -0.57% to nearly negligible values, suggesting a diminishing impact of intangible asset amortization on the income statement.
- Operating Income and Profitability
- Operating income as a percentage of revenues demonstrated noticeable volatility but an overall increase, rising from 18.69% to near 48.94%. This significant improvement indicates enhanced operational profitability possibly due to improved gross margins and disciplined operational expense management. Certain quarters showed very high operating income percentages (above 50%), suggesting episodic gains or non-recurring items positively impacting profitability.
- Net Income and Tax Impact
- Net income margins broadly improved from 15.25% to approximately 33.89%, reflecting overall stronger bottom-line performance despite fluctuations in tax provisions. The provision for income taxes was highly variable, with occasional negative values indicating tax benefits or credits, and in some quarters sharply reducing net income. This variability in effective tax rate suggests the presence of tax planning, one-off tax events, or changes in tax policy affecting the net profitability.
- Additional Income and Expense Items
- Interest expense as a percentage of revenues slightly increased from about -3.69% to a peak around -6.7% before settling near -6.13%, which may indicate growing debt servicing costs relative to revenue. Other income (expense) items were relatively minor and fluctuated between positive and negative contributions, implying no consistent trend but occasional contributions to total income variability.
- Non-Recurring Items and Special Charges
- Restructuring charges appeared intermittently, notably with a significant impact during one quarter (as much as -11.2%), indicating periods of organizational change and associated costs. Gains on product line asset sales were recorded sporadically, with a maximum around 27.44%, which likely boosted profits during specific quarters and contributed to income volatility.
- Summary of Financial Dynamics
- Over the analyzed periods, the company demonstrated a clear shift in revenue composition towards its scores segment and away from on-premises software and professional services. There was a sustained improvement in gross margins driven by declining cost of revenues, coupled with effective control of operating expenses, resulting in markedly higher operating income and net income margins. Fluctuations in tax expense and occasional non-recurring charges introduced variability in profitability metrics. Overall, the data suggest an improving profitability profile underpinned by strategic revenue mix shifts and disciplined cost management.