Stock Analysis on Net
Stock Analysis on Net

Parker-Hannifin Corp. (NYSE:PH)

$22.49

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

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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Parker-Hannifin Corp., consolidated income statement

US$ in thousands

Microsoft Excel
12 months ended: Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Gain (loss) on disposal of assets
Operating income
Interest expense
Other income (expense), net
Income before income taxes
Income taxes
Net income
Noncontrolling interest in subsidiaries’ earnings
Net income attributable to common shareholders

Based on: 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30).

Net Sales
Net sales exhibited an overall increasing trend from 2017 to 2022, rising from $12.03 billion to $15.86 billion. There was a slight dip in 2020 to $13.70 billion, likely reflecting external challenges during that period, but sales rebounded strongly in 2021 and 2022.
Cost of Sales
Cost of sales increased consistently over the years, moving from approximately $9.19 billion in 2017 to $11.39 billion in 2022. Despite the increase in absolute terms, cost of sales growth was generally proportional to net sales, helping maintain margins.
Gross Profit
Gross profit showed a steady upward trajectory, growing from $2.84 billion in 2017 to $4.47 billion in 2022. A noticeable dip occurred in 2020, consistent with the net sales decline, but gross profit recovered strongly thereafter, indicating improved cost management or pricing power.
Selling, General and Administrative Expenses
SG&A expenses fluctuated slightly but remained within a narrow band, ranging between $1.45 billion and $1.66 billion over the period. Despite sales growth, SG&A did not increase proportionally, suggesting efficiency improvements in overhead or administrative costs.
Gain (Loss) on Disposal of Assets
Gains and losses on asset disposals varied year-to-year, with a modest gain in most years except for a loss in 2019. A significant gain was noted in 2021 ($109 million), contributing positively to operating results that year.
Operating Income
Operating income increased steadily over the period, from approximately $1.43 billion in 2017 to $2.85 billion in 2022. The dip in 2020 aligned with lower sales and gross profit but was followed by strong growth in subsequent years, reflecting improved operational efficiency and possibly favorable market conditions.
Interest Expense
Interest expense fluctuated between $162 million and $308 million, peaking in 2020 before declining slightly in subsequent years. The surge in 2020 may reflect increased borrowing or higher interest rates during that period.
Other Income (Expense), Net
Other income (expense) was generally positive but showed a significant negative variance in 2022, with an expense of nearly $985 million. This large negative item substantially affected pre-tax earnings that year.
Income Before Income Taxes
Income before taxes rose from $1.33 billion in 2017 to a peak of $2.25 billion in 2021 but dropped to $1.61 billion in 2022. The decrease in 2022 appears related to the significant negative other income (expense) noted.
Income Taxes
Income tax expense varied widely, peaking in 2018 at approximately $641 million and decreasing notably in 2020 and 2022. Tax expense tends to correlate with pre-tax income fluctuations.
Net Income
Net income showed an overall growth trend from $984 million in 2017 to $1.75 billion in 2021, followed by a decline to $1.32 billion in 2022. The reduction in 2022 aligns with lower pre-tax income and substantial other expenses.
Noncontrolling Interest in Subsidiaries' Earnings
Noncontrolling interests were relatively small and stable, fluctuating between $362 thousand and $761 thousand, exerting minimal impact on overall earnings.
Net Income Attributable to Common Shareholders
This measure closely tracked net income trends, increasing consistently through 2021 before declining somewhat in 2022. The pattern reflects overall profitability trends for the company’s shareholders.