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Veritiv Corporation (VRTV)
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Veritiv Corporation Income Statement 2022-2011 | VRTV
Brief overview of income trends at Veritiv Corporation
The conclusions below are based on five years of reported results. Revenue at Veritiv Corporation moved from 8.4 billion dollars in 2017 to 7.1 billion dollars in 2022. Across the full period, sales moved by −14.6%; the average annual rate was −3.1%. Revenue ended the period on a sustained downward trend.
Gross profit changed from 1.5 billion dollars to 1.6 billion dollars (+6.7%). The relationship between revenue and direct costs remained stable. At the margin level, the figure shifted from 18.1% to 22.7%. The business retained more gross profit from each unit of revenue.
The operating result measured by EBITDA moved from $72.3 million to $487 million, or +573.3%. The operating result outpaced sales and points to improving efficiency. EBITDA margin moved from 0.9% to 6.8%. Higher profitability strengthens the quality of operating growth.
Net income moved from −13.3 million dollars at the start to 338 million dollars at the end. The trajectory reversed from a loss to positive earnings.
The market value of the business moved from $381 million to $2.2 billion, or +465.2%. Investors responded cautiously to the improvement in the business.
Summary assessment
The figures do not all move in the same direction. The strongest signals are improving gross profitability, positive operating leverage and net-income growth. Caution is warranted because of limited revenue growth. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Veritiv Corporation
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
2.15 B | 1.63 B | 380 M | 193 M | 457 M | 381 M | 889 M | 511 M | 612 M | - | - | - |
Shares |
14.2 M | 15.2 M | 16 M | 16.1 M | 15.8 M | 15.7 M | 16 M | 16 M | 12.1 M | 8.16 M | 8.16 M | - |
Historical Prices |
152 | 107 | 23.8 | 12 | 28.9 | 24.2 | 55.6 | 31.9 | 50.6 | - | - | - |
Net Income |
338 M | 145 M | 34.2 M | -29.5 M | -15.7 M | -13.3 M | 21 M | 26.7 M | -28 M | 200 K | 4.4 M | 21.9 M |
Revenue |
7.15 B | 6.85 B | 6.35 B | 7.66 B | 8.7 B | 8.36 B | 8.33 B | 33.6 M | 42.7 M | 53 M | 65.1 M | 6.51 B |
Cost of Revenue |
5.53 B | 5.42 B | 5.04 B | 6.21 B | 7.16 B | 6.85 B | - | - | - | - | - | - |
Gross Profit |
- | - | - | 1.45 B | 1.54 B | 1.52 B | 1.5 B | 1.56 B | 1.23 B | 916 M | 975 M | 1.03 B |
Operating Income |
441 M | 210 M | 47.8 M | 20.9 M | 15.8 M | 18.1 M | 74.2 M | 78.6 M | -6.4 M | -1.8 M | 21.6 M | - |
Interest Expense |
17.7 M | 17.2 M | 25.1 M | 38.1 M | 42.3 M | 31.2 M | 27.5 M | 27 M | 14 M | - | - | - |
EBITDA |
487 M | 265 M | 106 M | 74.4 M | 69.3 M | 72.3 M | 129 M | 136 M | 31.2 M | 15.3 M | 35.6 M | 111 M |
Operating Expenses |
- | - | - | 1.39 B | 1.47 B | 1.44 B | 1.39 B | 1.43 B | 1.15 B | 880 M | 919 M | 939 M |
General and Administrative Expenses |
763 M | 736 M | 718 M | 823 M | 868 M | 876 M | 828 M | 854 M | 689 M | 548 M | 581 M | 409 M |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Veritiv Corporation
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
13.6 M | 13.6 M | 13.5 M | 13.5 M | 13.8 M | 14.6 M | 14.8 M | 14.6 M | 14.9 M | 15.6 M | 15.9 M | 15.9 M | 15.9 M | 15.9 M | 16.2 M | 16.1 M | 16.1 M | 16.1 M | 15.9 M | 15.8 M | 15.8 M | 15.8 M | 15.8 M | 15.7 M | 15.7 M | 15.7 M | 15.7 M | 15.9 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 8.16 M | 8.16 M | 8.16 M | 8.16 M | 8.16 M | 8.16 M | - | - | - | - | - | - | - | - |
Net Income |
60.8 M | 70.7 M | 68.7 M | - | 96.7 M | 91.1 M | 78.5 M | - | 40 M | 26.4 M | 21.3 M | 32 M | 21.1 M | -18.5 M | -400 K | 3.4 M | 5.1 M | -11.3 M | -26.7 M | 9.3 M | 1.4 M | -10.6 M | -15.8 M | 12.3 M | -14.3 M | -9.1 M | -2.2 M | 4.2 M | 5.6 M | 7.9 M | 3.3 M | 10.1 M | 14.5 M | 4.3 M | -2.2 M | -14 M | -14 M | 2.9 M | 5.5 M | -1.8 M | 5.1 M | 200 K | -700 K | - | - | - | - | - | - | - | - |
Revenue |
1.46 B | 1.46 B | 1.51 B | - | 1.8 B | 1.82 B | 1.86 B | - | 1.77 B | 1.66 B | 1.56 B | 1.64 B | 1.59 B | 1.4 B | 1.71 B | 1.84 B | 1.92 B | 1.96 B | 1.94 B | 2.23 B | 2.19 B | 2.17 B | 6.9 M | 2.22 B | 8.6 M | 7.4 M | 8.9 M | 2.12 B | 8.5 M | 9.1 M | 9 M | 2.2 B | 8 M | 8 M | 9 M | 2.38 B | 9.2 M | 1.33 B | 1.31 B | 1.42 B | 1.44 B | 1.4 B | 1.39 B | - | - | - | - | - | - | - | - |
Cost of Revenue |
1.1 B | 1.1 B | 1.14 B | - | 1.39 B | 1.41 B | 1.46 B | - | 1.4 B | 1.32 B | 1.24 B | 1.31 B | 1.26 B | 1.11 B | 1.36 B | 1.48 B | 1.55 B | 1.58 B | 1.59 B | 1.83 B | 1.81 B | 1.79 B | 1.73 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
84.2 M | 98.9 M | 94.9 M | - | 134 M | 118 M | 87.2 M | - | 56.8 M | 38.3 M | 34.5 M | - | 27.9 M | -13.1 M | 6.9 M | - | 19.1 M | 5.9 M | -15.9 M | - | 15.5 M | -6 M | -18.9 M | - | -10.5 M | -8.8 M | 3.9 M | - | 23 M | 24.1 M | 15.5 M | - | 32.1 M | 15.7 M | 7.8 M | - | -17 M | 4.9 M | 8.8 M | - | 8.9 M | -4.3 M | - | - | - | - | - | - | - | - | - |
Interest Expense |
3.4 M | 4.3 M | 4.7 M | - | 4.8 M | 4 M | 3.5 M | - | 3.8 M | 4.5 M | 5.1 M | - | 5.5 M | 7.2 M | 7 M | - | 8.9 M | 10.2 M | 11.4 M | - | 11 M | 10.2 M | 9.3 M | - | 8.3 M | 7.4 M | 6.4 M | - | 8.2 M | 6.4 M | 6.5 M | - | 7 M | 6.4 M | 6.4 M | - | 6.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
93.6 M | 108 M | 105 M | - | 145 M | 130 M | 99.9 M | - | 70.1 M | 52.6 M | 49 M | - | 42.9 M | 1.2 M | 20.7 M | - | 32.4 M | 19.3 M | -3.1 M | - | 28.6 M | 8 M | -4.5 M | - | 2.6 M | 4.9 M | 17 M | - | 36.4 M | 37.7 M | 29 M | - | 45.8 M | 31 M | 21.3 M | - | -2.8 M | 9.2 M | 13.4 M | - | 13.3 M | -200 K | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
184 M | 164 M | 171 M | - | 195 M | 181 M | 188 M | - | 190 M | 178 M | 166 M | - | 177 M | 164 M | 204 M | - | 204 M | 211 M | 216 M | - | 210 M | 224 M | 223 M | - | 229 M | 210 M | 212 M | - | 207 M | 208 M | 201 M | - | 207 M | 218 M | 211 M | - | 213 M | 130 M | 129 M | - | 134 M | 136 M | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Veritiv Corporation (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.
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