Income Statement
Quarterly Data
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
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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Parker-Hannifin Corp., consolidated income statement (quarterly data)
US$ in thousands
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).
- Net Sales
- Net sales exhibit a general upward trend over the analyzed periods, starting from approximately $2.74 billion in September 2016 and increasing to about $4.67 billion by December 2022. There are fluctuations within individual quarters, including a notable dip during mid-2020, likely reflecting external economic pressures.
- Cost of Sales
- The cost of sales consistently increased alongside net sales, with values rising from around $2.11 billion to over $3.23 billion. Although gross profit margins show resilience, certain quarters, notably mid-2020, experienced reduced cost of sales, in line with lower sales volumes.
- Gross Profit
- Gross profit followed the sales trend with a clear increase over time, rising from approximately $637 million to over $1.43 billion. Some volatility is present, with decreases seen in late 2019 and mid-2020, but the overall pattern is positive, suggesting improved production efficiency or pricing power during recovery periods.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses remained substantial throughout the periods, generally fluctuating between approximately $320 million and $830 million. A significant spike appeared in late 2022, more than doubling prior levels, which may indicate increased operational costs, restructuring expenses, or investment in strategic initiatives.
- Operating Income
- Operating income shows an upward trajectory, growing from around $314 million to a peak exceeding $780 million by late 2022. Despite mid-2020 declines, operating income recovered strongly, reflecting effective cost management and revenue growth. The substantial increase in late 2022 parallels higher sales and gross profit, notwithstanding elevated SG&A expenses.
- Interest Expense
- Interest expense fluctuated moderately over time, starting near $34 million and rising to over $146 million in late 2022. The recent increase may suggest higher debt levels or increased borrowing costs, which could impact net profitability.
- Other Income (Expense), Net
- Other income and expenses display high volatility, with both positive and negative spikes. Notably, the company encountered significant negative impacts in late 2021 and 2022, suggesting occurrences of unusual or non-recurring charges. Conversely, some quarters, particularly 2018 and 2020, show strong positive figures, indicating gains or favorable adjustments.
- Income Before Income Taxes
- Income before taxes generally rose over the period, from approximately $292 million to over $516 million, though incidents of sharp declines, especially in late 2021 and parts of 2022, coincide with negative other income and higher interest expenses. The trend indicates overall profitability but with episodic challenges.
- Income Taxes
- Income tax expenses exhibit wide variability, with some quarters showing large negative tax impacts and others indicating reductions or refunds. The presence of a positive tax figure in mid-2022 suggests unusual adjustments. This variability affects the final net income figures and may reflect changes in tax strategy or the impact of nonrecurring tax events.
- Net Income
- Net income attributable to common shareholders has generally trended upwards, increasing from approximately $210 million to nearly $395 million. The data shows considerable variability, with a pronounced dip in late 2017 and mid-2020, mirrored by operating income and tax fluctuations. The recovery post-2020 indicates resilience and return to growth momentum.
- Key Observations
- The overall financial performance shows growth in sales and profitability over the years, alongside periodic volatility mainly attributable to global economic conditions and possibly company-specific operational changes. Elevated SG&A expenses and interest costs in the most recent periods warrant attention due to potential impact on net profitability. The significant swings in other income and tax expenses suggest volatility from non-operational factors. Monitoring these areas will be critical for sustained financial health.