Common-Size Income Statement
Paying user area
Try for free
Johnson Controls International plc pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Johnson Controls International plc for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Johnson Controls International plc, common-size consolidated income statement
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).
- Revenue Structure and Trends
- The proportion of net sales derived from products and systems decreased from 80.68% in 2018 to a low of 72.68% in 2021, before moderately increasing again to 75.58% by 2023. Meanwhile, services as a percentage of net sales showed an inverse pattern, rising from 19.32% in 2018 to a peak of 27.32% in 2021 and then declining to 24.42% in 2023. This indicates a shift in sales mix with growing emphasis on services up to 2021, followed by a partial retreat.
- Cost of Sales and Gross Profit
- Cost of sales, as a percentage of net sales, decreased from -70.13% in 2018 to -65.95% in 2021, indicating improving cost efficiency, but increased again to -66.52% by 2023. The cost structure of products and systems specifically showed a decreasing trend in margins, deteriorating from -59.24% in 2018 to around -52% in recent years. Services costs exhibited a similar moderate improvement from -10.89% to approximately -14% in 2023. Gross profit margin improved steadily from 29.87% in 2018 to a high of 34.05% in 2021, before slightly decreasing to 33.48% in 2023, reflecting manageable cost pressures.
- Operating Expenses and Income
- Selling, general, and administrative expenses rose sharply as a percentage of net sales from -19.14% in 2018 to around -26% in 2019 and 2020, followed by a reduction to around -23% in subsequent years. Restructuring and impairment costs showed volatility, spiking to -3.51% in 2020, then fluctuating between approximately -1% and -4% in later years, indicating periodic charges impacting operating profitability. Operating income experienced a significant dip from 9.89% in 2018 to a low of 4.32% in 2020, then recovered markedly to 10.81% in 2021, followed by a decline to 6.44% in 2023, signaling varying operational performance influenced by cost control and restructuring activities.
- Financing Charges and Income
- Net financing charges decreased from -1.40% in 2018 to a low of -0.84% in 2022 before increasing again to -1.05% in 2023. Interest expense followed a similar trend, declining initially and then rising slightly. Gains or losses on debt extinguishment were relatively minor and infrequent. Interest income and net foreign exchange results related to financing activities remained small but positive contributors throughout the periods.
- Profitability before and after Taxes
- Income from continuing operations before income taxes declined from 9.24% in 2018 to 4.05% in 2020, then surged to 11.04% in 2021 before decreasing to 6.38% in 2023. Income tax provisions showed large fluctuations, including a notable benefit in 2019 and 2023. Income from continuing operations mirrored these trends with a low of 3.56% in 2020 and recovery to 7.59% in 2023.
- Net Income and Noncontrolling Interests
- Net income as a percentage of net sales exhibited significant variability, decreasing to 3.56% in 2020, with a pronounced spike to 24.56% in 2019 largely due to income from discontinued operations. Excluding these items, net income stabilized in the range of approximately 6% to 7.9% in recent years. Income attributable to noncontrolling interests consistently represented a small negative proportion of net sales, averaging around -0.7% to -0.9%, slightly reducing net income attributable to shareholders of the company.