Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
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Monsanto Co., consolidated income statement
US$ in millions
Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).
- Net Sales and Cost of Goods Sold
- Net sales demonstrated a general upward trend from 2012 to 2014, increasing from $13,504 million to $15,855 million. This was followed by a decline in 2015 and 2016, with net sales dropping to $13,502 million in 2016. A partial recovery occurred in 2017, reaching $14,640 million. Cost of goods sold mirrored this pattern, rising until 2014 before declining and then slightly increasing again by 2017.
- Gross Profit
- Gross profit increased steadily from $7,045 million in 2012 to $8,574 million in 2014, indicating improving margin performance during this period. However, subsequent years saw a decrease, with gross profit declining to $7,017 million in 2016 before recovering to $7,937 million in 2017.
- Operating Expenses
- Operating expenses, including selling, general and administrative expenses and research and development expenses, consistently increased over the analyzed period. Selling, general, and administrative expenses grew from $2,390 million in 2012 to $2,969 million in 2017, while research and development expenses fluctuated but remained near $1,600 million by 2017. Restructuring charges appeared irregular, with significant charges in 2015 and 2016, followed by a positive adjustment in 2017.
- Income from Operations
- Income from operations rose from $3,148 million in 2012 to a peak of $4,075 million in 2014, then declined to $2,375 million in 2016. The figure improved in 2017 to $3,212 million, reflecting some recovery in operational profitability.
- Interest and Other Income/Expense
- Interest expense increased notably from $191 million in 2012 to $452 million in 2017, suggesting rising financing costs. Interest income remained relatively stable around $70 to $100 million annually. Other income/expense showed volatility, with a negative balance initially turning positive to $50 million in 2017.
- Income Before Taxes and Tax Provision
- Income from continuing operations before income taxes followed a pattern similar to operating income, increasing to a high in 2014 and subsequently declining until 2016 before improving in 2017. The income tax provision declined gradually over the years, from $901 million in 2012 to $626 million in 2017, indicating a potential decrease in effective tax rate or taxable income.
- Net Income
- Net income attributable to Monsanto Company increased annually through 2014, reaching $2,740 million, then sharply decreased to $1,336 million in 2016. This was followed by a significant recovery in 2017, with net income rising to $2,260 million. The pattern reflects overall earnings volatility, likely influenced by the trends in sales, costs, and operating expenses.