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  5. Income Statement
Vector Group Ltd. logo
Vector Group Ltd. VGR
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Quarterly report 2024-Q2
added 05-16-2026

Vector Group Ltd. Income Statement 2023-2007 | VGR

Brief overview of financial performance at Vector Group Ltd.

The comparison covers a five-year financial horizon. The revenue attributed to Vector Group Ltd. moved from 1.9 billion dollars to 1.4 billion dollars between the two endpoints. Overall revenue changed by −23.8%, equal to an annualized rate of about −5.3%. Revenue ended the period on a sustained downward trend.

At the gross-profit level, the result moved from $141 million to $459 million, a change of +225.9%. Cost of revenue moved broadly in line with sales. Gross margin moved from 7.5% to 32.2%. The expansion indicates stronger pricing power or better control of direct costs.

EBITDA changed from $243 million to $335 million (+37.9%). EBITDA expanded faster than the top line. The EBITDA share of revenue changed from 13% to 23.5%. Higher profitability strengthens the quality of operating growth.

Net income changed from $58.1 million to $184 million (+215.9%). Net income grew faster than revenue, indicating improved overall efficiency.

Market value was $1 billion at the start and $1.7 billion at the end. Capitalization grew more slowly than the underlying results.

Conclusion

The figures do not all move in the same direction. The financial profile benefits from positive operating leverage, a stronger gross margin and net-income growth. The weaker side of the profile includes a softer top-line trend. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.

Annual Income Statement Vector Group Ltd.

2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

Market Cap

 1.74 B 2.11 B 1.73 B 1.63 B 1.68 B 1 B 2.01 B 1.69 B 1.48 B 1.04 B 623 M 451 M 435 M - - - -

Shares

 153 M 153 M 152 M 150 M 147 M 146 M 146 M 137 M 130 M 113 M 101 M 93.3 M 86.7 M 81.9 M 76.6 M - -

Historical Prices

 11.4 13.8 11.3 10.8 11.5 6.84 13.8 12.4 11.4 9.13 6.17 4.83 5.02 - - - -

Net Income

 184 M 159 M 219 M 92.9 M 101 M 58.1 M 84.6 M 71.1 M 59.2 M 36.9 M 37.3 M 30.6 M 75 M 54.1 M 24.8 M 60.5 M -

Revenue

 1.42 B 1.44 B 1.22 B 1.23 B 1.12 B 1.87 B 1.81 B 1.69 B 1.66 B 1.59 B 1.06 B 1.08 B 1.13 B - - - -

Cost of Revenue

 965 M 999 M 770 M 820 M 775 M 1.29 B 1.23 B 1.1 B 1.11 B 1.1 B 767 M 832 M 893 M 845 M 577 M 335 M -

Gross Profit

 - 116 M 110 M 106 M 138 M 141 M 137 M 139 M 138 M 126 M 97 M 69.8 M 64.1 M 52.6 M - - -

Operating Income

 328 M 339 M 320 M 294 M 235 M 224 M 236 M 235 M 200 M 212 M 111 M 155 M 143 M 111 M 143 M 135 M -

Interest Expense

 109 M 111 M 113 M 121 M 138 M 204 M 174 M 143 M 121 M 161 M 132 M 110 M 101 M 84.1 M 68.5 M 62.3 M -

EBITDA

 335 M 346 M 337 M 312 M 252 M 243 M 254 M 257 M 226 M 237 M 124 M 166 M 154 M 122 M 154 M 145 M -

Operating Expenses

 - - - - 370 M 356 M 339 M 341 M 320 M 279 M 114 M 108 M 97.2 M 90.7 M 85 M 94.6 M -

General and Administrative Expenses

 112 M 103 M 131 M 117 M 109 M 356 M 337 M 339 M 320 M 279 M 109 M 106 M 97.2 M - - - -

All numbers in USD currency

Quarterly Income Statement Vector Group Ltd.

2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2

Shares

 154 M 153 M 156 M 153 M 153 M 153 M 155 M 153 M 153 M 153 M 154 M 153 M 152 M 152 M 153 M 152 M 149 M 147 M 148 M 147 M 140 M 139 M 141 M 139 M 133 M 133 M 134 M 133 M 126 M 126 M 128 M 124 M 118 M 118 M 124 M 118 M 112 M 111 M 115 M 103 M 96.8 M 94.6 M 97.5 M 91.2 M 86.8 M 89.9 M 89.9 M 85.3 M 79.4 M 79.1 M 79.4 M 79 M 74.7 M 75 M 74.9 M 71.4 M

Net Income

 54.2 M 34.8 M - 52.7 M 38.1 M 34.7 M - 38.9 M 39.2 M 32.5 M 45.3 M 48.9 M 93.3 M 32 M 32.3 M 38.1 M 25.8 M -3.23 M 10.7 M 36 M 39.3 M 15 M 21.1 M 12 M 17.8 M 7.21 M 42.7 M 19.3 M 26.8 M -4.23 M 4.6 M 23.2 M 24 M 19.3 M 7.9 M 12.2 M 17.9 M 21 M 12.2 M 14.9 M 7.92 M 3.53 M 64 M -36.9 M 13.5 M -1.68 M 16.5 M 17.9 M 3.9 M -7.69 M 7.8 M 17.5 M 30.3 M 19.4 M 10.9 M 19.2 M

Revenue

 372 M 325 M - 364 M 366 M 334 M - 378 M 387 M 312 M 314 M 653 M 730 M 544 M 287 M 548 M 446 M 454 M 440 M 505 M 538 M 421 M 446 M 514 M 481 M 429 M 436 M 485 M 472 M 415 M 413 M 459 M 438 M 381 M 430 M 450 M 416 M 361 M 418 M 420 M 407 M 347 M 300 M 278 M 256 M 246 M 278 M 273 M 277 M 258 M 293 M 289 M 291 M 260 M - -

Cost of Revenue

 245 M 218 M - 246 M 249 M 232 M - 267 M 271 M 213 M - 447 M 500 M 364 M - 375 M 305 M 311 M - 345 M 368 M 286 M - 360 M 333 M 294 M - 338 M 315 M 276 M - 303 M 284 M 236 M - 296 M 279 M 242 M - 287 M 279 M 239 M - 195 M 180 M 173 M - 204 M 212 M 200 M - 228 M 231 M 205 M 239 M 211 M

Gross Profit

 - - - - - - - - - - 110 M 111 M 125 M 105 M 106 M 114 M 98.2 M 90.6 M 138 M 159 M 170 M 135 M 141 M 154 M 149 M 135 M 137 M 147 M 157 M 139 M 139 M 156 M 155 M 144 M 138 M 154 M 137 M 119 M 126 M 133 M 127 M 108 M 97 M 77.1 M 69.8 M 69 M 69.8 M 69 M 64.8 M 57.4 M 64.1 M 61.1 M 60.1 M 55.2 M - -

Operating Income

 97.8 M 77.8 M - 90.5 M 71.6 M 74.3 M - 83.9 M 90.7 M 75.1 M 68.6 M 108 M 137 M 90.2 M 74 M 95.9 M 66.8 M -4.9 M 45.6 M 66.7 M 76.2 M 42.6 M 48.1 M 66 M 61.9 M 48.1 M 48.2 M 59.2 M 73.8 M 52.9 M 30.8 M 69.4 M 70.7 M 62.2 M 31 M 69.6 M 56 M 44 M 47.1 M 63 M 60.3 M 42.7 M 62 M -37.3 M 44.2 M 43.1 M 37.4 M 43.2 M 40.9 M 33.4 M 36 M 37.9 M 38 M 31.5 M 29.9 M 21.1 M

Interest Expense

 5.58 M 27.4 M - 27.3 M 27.1 M 27.5 M - 27.6 M 30.7 M 25.1 M - 28.3 M 28.1 M 28.8 M - 28.2 M 29.4 M 35.6 M - 33 M 32.8 M 37.5 M - 51.1 M 48.4 M 45.9 M - 43.2 M 46.7 M 46.2 M - 37.4 M 36.4 M 30.7 M - 32.9 M 31.8 M 31.7 M - 44 M 44.2 M 35.5 M - 33.6 M 32.1 M 33.4 M - 25.9 M 26.5 M 26.3 M - 25.4 M 25.1 M 24.9 M 21.5 M 20.8 M

EBITDA

 101 M 79.4 M - 92.3 M 73.4 M 76 M - 85.7 M 92.5 M 77 M 68.6 M 112 M 141 M 94.4 M 74 M 100 M 71.2 M -329 K 45.6 M 71.2 M 80.5 M 47.3 M 48.1 M 70.7 M 66.6 M 52.7 M 48.2 M 63.6 M 78.4 M 58 M 30.8 M 75.2 M 76.6 M 67.3 M 31 M 76.3 M 62.5 M 50.2 M 47.1 M 69 M 65.8 M 49.8 M 62 M -34.5 M 46.9 M 45.7 M 37.4 M 45.8 M 43.5 M 36.2 M 36 M 40.5 M 40.6 M 34.1 M 29.9 M 21.1 M

Operating Expenses

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 79.8 M - 79.1 M 79.7 M 73.9 M - 69.4 M 67 M 65.5 M - 25.9 M 24.4 M 24.4 M - 25.8 M 23.9 M 24 M - 23.3 M 22.1 M 23.7 M 26.1 M 22 M

General and Administrative Expenses

 29.5 M 28.7 M - 27.5 M 26.9 M 27.3 M - 27 M 25.2 M 24 M - 98.9 M 92 M 90 M - 77 M 71.1 M 90.5 M - 92.4 M 93.4 M 92.3 M - 87.5 M 86.3 M 89.1 M - 83.2 M 83.2 M 84.8 M - 86.3 M 83.9 M 79.8 M - 79.4 M 79.9 M - - - - - - - - - - - - - - - - - - -

All numbers in USD currency

The income statement is one of the three key financial reports of a company Vector Group Ltd. (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

Reports on the profits and losses of other stocks in the Tobacco industry

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