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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- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Williams-Sonoma Inc., consolidated income statement
US$ in thousands
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
- Net revenues exhibited a general upward trend from 2019 through 2023, rising from approximately $5.67 billion to a peak of $8.67 billion. However, in 2024, net revenues declined sharply to around $7.75 billion, representing a notable decrease from the previous year.
- Cost of Goods Sold (COGS)
- Cost of goods sold increased steadily from about $3.57 billion in 2019 to nearly $5 billion in 2023, reflecting growing expenses associated with higher sales volumes. In 2024, COGS decreased significantly to approximately $4.45 billion, in line with the reduction in net revenues.
- Gross Profit
- Gross profit grew considerably from roughly $2.1 billion in 2019 to a peak of $3.68 billion in 2023. Despite the drop in revenues in 2024, gross profit remained relatively high at around $3.3 billion, indicating some mitigation of margin pressure despite lower sales.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses rose modestly from $1.67 billion in 2019 to approximately $2.18 billion in 2022 and 2023, showing stable operational costs during the period of revenue growth. In 2024, these expenses decreased slightly to about $2.06 billion, aligning with the lower revenue environment.
- Operating Income
- Operating income demonstrated strong growth from $436 million in 2019 to a high of nearly $1.5 billion in 2023, more than tripling over the period. In 2024, operating income decreased to roughly $1.24 billion, reflecting the combined impact of lower revenue and gross profit.
- Interest Income (Expense), Net
- Net interest expense widened through 2021, reaching approximately $16.2 million in net cost, but reversed dramatically in subsequent years, moving into net interest income territory of $2.3 million in 2023 and rising significantly to $29.2 million in 2024. This shift positively contributed to overall earnings.
- Earnings Before Income Taxes (EBT)
- Earnings before income taxes increased markedly from $429 million in 2019 to $1.5 billion in 2023, closely mirroring operating income trends. In 2024, EBT declined to around $1.27 billion, consistent with the decrease in operating performance but somewhat supported by improved interest income.
- Income Taxes
- Income tax expenses progressively increased from $96 million in 2019 to $373 million in 2023, reflecting higher pre-tax earnings. In 2024, income taxes decreased to $324 million, in line with the reduced earnings before taxes.
- Net Earnings
- Net earnings showed a significant upward trajectory over the period, from $334 million in 2019 to a peak of $1.13 billion in both 2022 and 2023, nearly tripling since 2019. In 2024, net earnings dropped to approximately $950 million, indicating a decline but maintaining a level substantially above earlier years.