Stock Analysis on Net
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).

Cost of Sales and Gross Profit Trends
The cost of sales as a percentage of net sales generally declined over the presented periods, moving from around -76.77% in September 2016 to a notably lower -66.04% in September 2022, despite some volatility. Correspondingly, gross profit margins increased steadily, rising from approximately 23.23% in late 2016 to a peak of 33.96% in September 2022, indicating improved cost management or favorable sales mix dynamics in recent quarters.
Operating Expenses and Operating Income
Selling, general, and administrative expenses (% of net sales) exhibited some fluctuations, initially around -11.77% in September 2016, with a brief spike to nearly -19.75% in September 2022. Despite these fluctuations, operating income margins improved overall, rising from roughly 11.45% in late 2016 to peaks above 18% in late 2021 and maintaining above 13% into the end of 2022. This reflects effective operational leverage and expense control relative to sales.
Interest Expense and Other Income (Expense), Net
Interest expense relative to net sales showed a generally increasing trend, moving from approximately -1.24% in September 2016 to a higher level near -3.14% in December 2022, suggesting higher debt levels or rising interest rates impacting financial costs. Other income (expense), net demonstrated significant volatility, with notable positive spikes in certain periods such as December 2020 (3.04%) but also sharp negatives late in 2021 (down to -14.12%), indicating irregular gains or losses affecting pre-tax earnings variability.
Income Before Taxes and Income Taxes
Pre-tax income margins fluctuated but overall showed resilience, with increases from 10.65% in September 2016 to highs above 16% in 2021, followed by a decline to around 11% by the end of 2022. Income tax fluctuated as a percentage of net sales, occasionally showing atypical patterns (e.g., -9.02% in December 2017 and a minimal positive tax impact in June 2022), suggesting changes in tax provision policies or adjustments affecting reported tax expenses.
Net Income and Earnings Attributable to Shareholders
Net income margins followed an upward trajectory overall, increasing from around 7.66% in September 2016 to peaking at over 13% in late 2020 and early 2021, before moderating to roughly 8.46% by the end of 2022. Similarly, net income attributable to common shareholders mirrors this trend, highlighting improved profitability despite some recent softness. This pattern suggests satisfactory bottom-line growth with possible headwinds emerging in the most recent quarters.