#income-statement
Understand, read, and analyze income statements and profit and loss reports
The 10-column worksheet turns raw ledger balances into statements: add adjustments, prove the adjusted balances, extend each account to its statement.
Contribution margin is price minus variable cost — what each sale contributes to fixed costs. The CM ratio sets break-even in units and dollars.
Spotify Q3 2026 revenue rose 16% to €4.97B on 306M subscribers and operating income 15% to €672M, but net income fell 42% as a €197M note gain lapsed.
Elevance Health Q3 2026: $6.99 adjusted EPS (+15.9%) as the benefit ratio fell 70bp to 90.6%, but a $412M investment-income jump covered all the pre-tax gain.
Halliburton Q3 2026: revenue rose 1.8% to $5.70B, adjusted EPS hit $0.60, and the 2027 guide targets ~15% operating margins with North America flat.
IBM Q3 2026: revenue rose 4.7% to $17.1B and net income 26%, but pre-tax income grew just 2.8% — an 11.9% tax rate did the work; Software grew 8.2%.
J&J Q3 2026: $25.4B sales (+5.9%) but $0.09 EPS after a $5.5B talc charge; adjusted EPS $2.59 as guidance rises to $101.2B.
Kinder Morgan Q3 2026: net income rose 22% to a record $764M, Adjusted EBITDA 9% to $2.18B, and the backlog jumped $4.7B to $14.4B, mostly power-linked gas.
Lockheed Martin Q3 2026: sales up 11% to $20.7B and EPS 14% to $7.97 as a $52.5B PAC-3 award lifted backlog to a record $292B, yet free cash flow fell 10%.
Molina Healthcare Q3 2026: adjusted EPS fell 52% to $0.89 as the medical care ratio rose 30bp to 92.9%, yet the $5.25 guide holds on 2027 Medicaid rates.
P&G Q1 FY2027: sales rose 4% to $23.3B on 2.4% volume growth, but gross margin fell 160 bps and a $1.4B commodity headwind looms as Thorne closes.
Texas Instruments Q3 2026: revenue rose 28% to $6.06B, operating margin hit 47.5%, and TTM free cash flow reached $8.4B as capex fell 46%.
