Common-Size Income Statement
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Aggregate Accruals
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Amphenol Corp., common-size consolidated income statement
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Cost of Sales
- The cost of sales as a percentage of net sales has shown a gradual decrease over the analyzed period, moving from -68.2% in 2019 to -67.47% in 2023. This indicates a moderate improvement in production efficiency or cost management.
- Gross Profit
- Gross profit margins have slightly increased from 31.8% in 2019 to 32.53% in 2023, reflecting an enhancement in profitability at the gross level, consistent with the reduction in the cost of sales percentage.
- Acquisition-Related Expenses
- Acquisition-related expenses have fluctuated with no clear trend, peaking at -0.65% in 2021 but generally remaining low, indicating occasional but relatively minor impacts from acquisitions on profitability.
- Selling, General and Administrative Expenses
- SG&A expenses as a percentage of net sales have remained relatively stable around 11-12%, with a slight decrease observed from 11.81% in 2019 to 11.26% in 2022, followed by a minor increase to 11.87% in 2023, suggesting steady operating cost control.
- Operating Income
- Operating income showed a slight decline from 19.69% in 2019 to 19.05% in 2020, then gradually increased to a peak of 20.48% in 2022 before a small decrease to 20.39% in 2023. Overall, operating profitability improved over the period.
- Interest Expense
- Interest expenses have decreased from -1.43% in 2019 to a low of -1.02% in 2022, reflecting potentially reduced debt levels or favorable interest rates, before a small uptick to -1.11% in 2023.
- Other Income and Related Items
- Other income (expense), net, has been low and stable, with a slight increase to 0.23% in 2023. Notably, a gain on bargain purchase acquisition, though minimal at 0.04%, appeared in 2023, while a loss on early extinguishment of debt occurred only in 2019 at -0.17%.
- Income Before Income Taxes
- Income from continuing operations before income taxes experienced a reduction in 2020 to 17.75% from 18.19% in 2019, then increased to 19.55% in both 2022 and 2023, showing improvement in pre-tax profitability.
- Provision for Income Taxes
- The tax provision fluctuated within a narrow range, from -4.04% in 2019 down to -3.64% in 2020, increasing again to around -4.06% in 2023, indicating stable effective tax rates relative to net sales.
- Net Income
- Net income attributable to Amphenol Corporation increased steadily each year from 14.04% in 2019 to 15.36% in 2023, corroborating the trend of improving profitability. The overall net income followed a similar pattern, with slight variations related to income attributable to noncontrolling interests and discontinued operations.
- Income from Discontinued Operations
- A notable item is the recorded income from discontinued operations, net of income taxes, at 0.2% in 2021 only, suggesting a one-time effect that did not recur in other periods.
- Net Income Attributable to Noncontrolling Interests
- Net income attributable to noncontrolling interests remained small and stable, fluctuating narrowly between -0.10% and -0.14%, indicating consistent minor allocations to minority shareholders.