Corporate Income Statement

Last Updated: April 02, 2026 at 10:56 AM EST

Author

Mike Aguilar
/in/mike-aguilar-econ/
mike.aguilar at duke.edu

Corporate Income Statement (Mln$)
Accounting Concept 2022 2023 2024 2025
Gross Profit 15,322,598 16,125,928 16,961,079 NA
Depreciation 2,287,902 2,447,353 2,583,318 2,743,319
OpEx (Total) 9,683,961 10,155,227 10,694,088 11,317,633
Employee Comp 8,504,055 8,960,619 9,443,321 9,905,280
Wages and Salaries 7,232,466 7,599,293 7,993,400 8,377,404
Supplements to Wages and Salaries 1,271,589 1,361,327 1,449,921 1,527,876
Taxes on production 1,179,906 1,194,608 1,250,767 1,412,353
Operating Income 3,350,735 3,523,348 3,683,673 NA
Interest Expense 240,968 168,012 88,225 NA
Business Transfers 196,648 211,086 251,287 243,206
Income Tax 600,568 613,010 680,341 NA
Dividends 1,644,556 1,741,153 1,880,004 NA
IVA -161,468 32,987 -8,915 NA
CCAdj -83,266 -270,898 -368,494 -80,187
GAAP
EBT 3,157,852 3,382,161 3,721,570 NA
EBT Receipts from RoW 936,447 948,078 985,914 NA
EBT Payments to RoW 486,965 475,002 528,324 NA
Net Income 2,557,284 2,769,151 3,041,229 NA
Retained Earnings 912,728 1,027,997 1,161,225 NA
NonGAAP
EBT 2,913,118 3,144,250 3,344,161 NA
Net Income 2,312,550 2,531,240 2,663,820 NA
Retained Earnings 667,994 790,086 783,816 NA
Ratios & Rates (%)
Retention Ratio 0.289 0.312 0.294 NA
Payout Ratio 0.711 0.688 0.706 NA
Effective Tax Rate 0.260 0.242 0.255 NA