Common-Size Income Statement
Quarterly Data
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- Statement of Comprehensive Income
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Kellanova, common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
- Cost of Goods Sold
- The cost of goods sold as a percentage of net sales displays a fluctuating yet generally declining trend from 2019 through mid-2024. Initially high at -68.57% in March 2019, it improved toward lower costs reaching -63.63% by June 2024. Notably, some quarters in late 2023 evidence a dip in cost of goods sold, suggesting better cost management or pricing strategies.
- Gross Profit
- Gross profit margins show variability but overall demonstrate resilience, oscillating mainly between 29% and 36%. After a dip in late 2019 and 2021, gross profit margins climbed steadily through 2023 into mid-2024, achieving a peak of 36.37% in June 2024, reflecting effective control over costs or sales price improvements.
- Selling, General and Administrative Expenses
- Selling, general and administrative expenses (SG&A) as a percentage of net sales reveal a mild upward trend with intermittent variance. Early periods were marked by SG&A expenses around -20%, increasing to nearly -24.18% in late 2023 before slightly receding to approximately -20.93% by mid-2024, indicating some pressure on operating expenses that may impact profitability.
- Operating Profit
- Operating profit margins have shown notable fluctuations yet remain positive throughout the periods. The margin improved from 10.82% in early 2019 to peaks above 15% by mid-2024, despite some troughs such as 8.74% in late 2022. This pattern suggests effective operational adjustments and cost controls contributing to overall profitability.
- Interest Expense
- Interest expense relative to net sales remains fairly stable, generally oscillating between -1.4% and -3.09%. The highest costs appeared in late 2023 with a slight decrease by mid-2024. This stability suggests consistent debt levels or financing costs without significant volatility.
- Other Income (Expense), Net
- Other income and expense exhibit considerable variability, including periods of positive income spikes such as 8.25% in late 2021 and notable negative impacts like -10.64% at the end of 2022 and -7.35% in late 2023. These swings suggest episodic non-operating events affecting financial results, which introduce volatility to net earnings.
- Income from Continuing Operations Before Income Taxes
- This metric maintains generally positive values with fluctuations reflective of operational and non-operational influences. Margins peaked in early 2021 and again in late 2021 (over 16%) but also showed occasional declines, including a negative margin (-3.7%) in late 2022, followed by recovery. This volatility underscores the impact of external factors and operational challenges on pre-tax profitability.
- Income Taxes
- Income tax expenses show variation, generally ranging from -0.64% to around -4.05%, with occasional positive values seen in early 2023. This inconsistency could reflect changes in taxable income, tax planning, or adjustments related to temporary differences and tax credits.
- Net Income from Continuing Operations
- Net income margins from continuing operations generally follow the pattern of operating and pre-tax income but with some declines during challenging quarters. The company experienced a notable loss in early 2023 (-2.61%) but otherwise maintained positive net income margins, reaching as high as 12.69% in late 2021 and 10.87% in mid-2024, highlighting periods of strong profitability.
- Income from Discontinued Operations
- Income from discontinued operations appears sporadically from early 2023 onward with moderate positive contributions around 1.7% to 2%. This reflects the ongoing impact of divestitures or discontinued business segments on overall profitability.
- Net Income
- The overall net income margin shows a trajectory resembling net income from continuing operations, including a dip into negative territory in early 2023, followed by rebound into double-digit margins by mid-2024. This pattern reflects the combined impact of operational performance and non-operating items.
- Net Income Attributable to Noncontrolling Interests
- The net income or loss attributable to noncontrolling interests remains minor, fluctuating around zero with both positive and negative values observed, indicating a relatively small impact on overall net income attributable to the company.
- Net Income Attributable to Kellanova
- Net income attributable to the company broadly follows the trends of net income, exhibiting growth from around 8% in early 2019 to peaks exceeding 10% in several periods, including mid-2024. The brief negative period in early 2023 points to some operational or financial challenges but subsequent recovery suggests resilience and potential for sustained profitability.