Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Parker-Hannifin Corp. (NYSE:PH)

This company has been moved to the archive! The financial data has not been updated since February 7, 2023.

Common-Size Income Statement
Quarterly Data

Parker-Hannifin Corp., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016
Net sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -69.24 -66.04 -71.17 -71.65 -72.29 -72.12 -71.51 -72.46 -73.85 -73.81 -74.58 -74.73 -76.69 -74.37 -74.42 -75.03 -74.95 -74.58 -74.29 -75.34 -76.22 -75.28 -75.93 -76.42 -76.55 -76.77
Gross profit 30.76% 33.96% 28.83% 28.35% 27.71% 27.88% 28.49% 27.54% 26.15% 26.19% 25.42% 25.27% 23.31% 25.63% 25.58% 24.97% 25.05% 25.42% 25.71% 24.66% 23.78% 24.72% 24.07% 23.58% 23.45% 23.23%
Selling, general and administrative expenses -17.43 -19.75 -10.18 -10.09 -9.95 -10.84 -10.46 -10.33 -10.45 -11.45 -11.16 -11.17 -14.04 -11.97 -10.63 -9.79 -11.44 -11.33 -11.07 -11.22 -12.24 -11.94 -11.51 -12.57 -12.60 -11.77
Operating income 13.33% 14.21% 18.65% 18.25% 17.76% 17.04% 18.03% 17.21% 15.70% 14.75% 14.25% 14.11% 9.27% 13.66% 14.95% 15.18% 13.61% 14.09% 14.65% 13.44% 11.54% 12.78% 12.56% 11.01% 10.85% 11.45%
Interest expense -3.14 -2.78 -1.70 -1.55 -1.60 -1.58 -1.52 -1.62 -1.85 -2.04 -2.36 -2.18 -2.37 -2.10 -1.36 -1.31 -1.37 -1.27 -1.39 -1.44 -1.58 -1.59 -1.51 -1.35 -1.25 -1.24
Other income (expense), net 0.87 0.46 -14.12 -6.09 -3.33 -0.27 0.11 0.36 3.04 0.15 -0.17 0.34 0.39 1.43 0.35 0.47 0.18 0.40 -0.21 0.53 0.72 -0.07 0.41 0.44 2.41 0.45
Income before income taxes 11.05% 11.89% 2.82% 10.62% 12.82% 15.19% 16.62% 15.95% 16.90% 12.86% 11.72% 12.27% 7.28% 12.99% 13.94% 14.35% 12.42% 13.21% 13.04% 12.53% 10.69% 11.12% 11.46% 10.10% 12.01% 10.65%
Income taxes -2.59 -2.72 0.26 -2.10 -2.68 -3.20 -3.84 -3.35 -3.78 -2.90 -2.37 -2.34 -1.43 -2.82 -2.71 -3.20 -3.43 -2.41 -3.79 -2.77 -9.02 -2.64 -3.07 -2.44 -2.97 -2.99
Net income 8.46% 9.17% 3.08% 8.52% 10.14% 12.00% 12.78% 12.59% 13.12% 9.96% 9.36% 9.92% 5.85% 10.17% 11.24% 11.16% 8.98% 10.80% 9.26% 9.76% 1.67% 8.49% 8.39% 7.66% 9.04% 7.66%
Noncontrolling interest in subsidiaries’ earnings 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 -0.01 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 -0.01 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00
Net income attributable to common shareholders 8.45% 9.16% 3.08% 8.52% 10.13% 11.99% 12.77% 12.59% 13.11% 9.95% 9.36% 9.92% 5.85% 10.16% 11.24% 11.15% 8.98% 10.80% 9.25% 9.76% 1.67% 8.48% 8.39% 7.65% 9.03% 7.66%

Based on: 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).

The financial performance from September 30, 2016, through December 31, 2022, is characterized by a consistent expansion of gross margins, offset by intermittent volatility in operating expenses and non-operating items.

Gross Profitability and Cost Management
A sustained improvement in gross profit margins is observed over the analyzed period. Cost of sales as a percentage of net sales decreased from 76.77% in September 2016 to 69.24% by December 2022. This efficiency gain resulted in gross profit margins rising from 23.23% to a peak of 33.96% in September 2022, indicating improved production efficiency or pricing power.
Operating Margin Trends
Operating income margins exhibited a general upward trajectory for the majority of the period, climbing from 11.45% in late 2016 to a peak of 18.65% in June 2022. This growth was supported by a relatively stable selling, general, and administrative (SG&A) expense ratio, which typically fluctuated between 10% and 12%. However, a sharp reversal occurred in the second half of 2022, where SG&A expenses spiked to 19.75% in September and 17.43% in December, compressing the operating margin to 13.33% by the end of the period.
Non-Operating Impact and Pre-Tax Income
The income before income taxes was significantly impacted by volatile non-operating items. While interest expenses remained relatively contained between 1.2% and 2.4% for most of the period, they rose to 3.14% by December 2022. A notable anomaly occurred in June 2022, where "Other income (expense), net" recorded a substantial loss of 14.12% of net sales, which severely depressed the pre-tax income to 2.82% for that quarter despite strong operating performance.
Net Income Volatility
Net income attributable to common shareholders generally trended upward, moving from 7.66% in September 2016 to peaks exceeding 13% in late 2020. The bottom line remained sensitive to both tax fluctuations—such as the spike to 9.02% in December 2017—and the aforementioned non-operating losses in mid-2022, which caused net income to drop to 3.08% in June 2022 before recovering to 8.45% by December 2022.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?