Common-Size Income Statement
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
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Williams-Sonoma Inc., common-size consolidated income statement
Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).
- Net Revenues
- The net revenues percentage remains constant at 100% across all periods, serving as the baseline for relative financial metrics.
- Cost of Goods Sold (COGS)
- COGS as a percentage of net revenues shows a generally declining trend from -62.96% in 2019 to -57.38% in 2024. The most notable drop occurs between 2020 and 2022, indicating improved efficiency or cost control in the production or procurement of goods. The slight rise in 2023 is followed by a minor decrease in 2024.
- Gross Profit
- Gross profit margins improve over the period, rising from 37.04% in 2019 to 42.62% in 2024. This reflects the decreasing COGS ratio and suggests enhanced profitability at the gross margin level. The peak occurs in 2022 at 44.05%, after which it slightly declines but remains significantly higher than in earlier years.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses relative to net revenues decrease overall from -29.36% in 2019 to around -26.57% in 2024, though there is some fluctuation. Notable reductions appear in 2021 and 2023, contributing positively to operating margins, although 2022 and 2024 show slight increases again.
- Operating Income
- Operating income percentage rises substantially from 7.69% in 2019 to a peak of 17.62% in 2022. This strong growth corresponds with improvements in gross profit and controlled SG&A expenses. After 2022, operating income slightly decreases to 16.05% by 2024, indicating a minor easing of operating profitability but still a high level compared to the initial years.
- Interest Income (Expense), Net
- The net interest expense shows a trend of improvement, moving from a negative impact of -0.12% in 2019 to a net positive of 0.38% in 2024. This shift from net expense to net income suggests favorable changes in financing costs or investment income.
- Earnings Before Income Taxes (EBIT)
- EBIT trends mirror operating income, with a growth from 7.57% in 2019 to 17.6% in 2022, and a slight decrease thereafter to 16.43% in 2024. This reflects operational improvements and the positive contribution from interest income adjustments.
- Income Taxes
- The income tax expense increases in proportion to net revenues, rising from -1.68% in 2019 to a peak of -4.3% in 2023, before slightly decreasing to -4.18% in 2024. This reflects higher taxable earnings and potentially higher tax rates or effective tax burdens over time.
- Net Earnings
- Net earnings exhibit a significant increase from 5.88% in 2019 to a maximum of 13.66% in 2022, followed by a moderate decline to 12.25% in 2024. The pattern aligns with operating income and EBIT trends, indicating improved overall profitability that peaks and then slightly recedes but remains substantially above initial levels.