National Income Statement

Last Updated: October 04, 2026 at 02:03 PM EST

Author

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

National Income Statement (Mln$)
Accounting Concept 2022 2023 2024 2025
Gross Revenue 46,574,800 48,250,600 50,519,200 52,797,100
COGS 20,515,000 20,424,700 21,138,200 21,935,800
COGS (Energy) 1,130,200 932,900 878,900 859,100
COGS (Materials) 7,242,100 6,850,100 6,958,200 7,128,100
COGS (Services) 12,142,800 12,641,700 13,301,100 13,948,600
Gross Profit 26,059,709 27,825,886 29,380,991 30,861,292
OpEx (Total) 15,174,812 16,016,887 16,941,118 17,830,017
OpEx (Employee Comp) 13,466,671 14,256,577 15,064,163 15,718,937
OpEx (Wages and Salary) 11,142,671 11,757,205 12,433,077 12,999,012
OpEx (Supplements) 2,324,001 2,499,372 2,631,086 2,719,924
OpEx (Tax on Product) 1,836,174 1,862,707 1,973,009 2,233,060
OpEx (Subsidies) 128,033 102,397 96,054 121,980
EBITDA 10,884,900 11,809,000 12,439,900 13,031,300
Gross Operating Surplus (Calculated, reconciliation) 10,884,897 11,808,999 12,439,873 13,031,275
Depreciation 4,310,057 4,576,356 4,804,982 5,055,456
Operating Income (EBIT), Output Perspective 6,574,843 7,232,644 7,634,918 7,975,844
Statiscal Discrepancy -7,909 118,073 84,676 -46,421
Operating Income (EBIT) 6,582,748 7,114,569 7,550,215 8,022,241
Business Transfers 255,922 261,509 289,225 277,774
Proprietors' Income 1,868,676 1,842,567 1,915,959 2,017,032
Rental Income 874,578 1,002,577 1,067,564 1,139,832
Government Enterprises -18,889 -45,963 -40,969 -43,194
Corporate Profit 2,912,870 3,124,305 3,299,403 3,512,629
Interest Expense 689,591 929,574 1,019,033 1,118,169
EBT 5,893,157 6,184,995 6,531,182 6,904,072
Margins (%)
Gross Margin 56.0% 57.7% 58.2% 58.5%
EBITDA Margin 23.4% 24.5% 24.6% 24.7%
EBIT Margin 14.1% 14.7% 14.9% 15.2%
EBT Margin 12.7% 12.8% 12.9% 13.1%
Note (NAT-LIN-001):
GrossOpSurplus.Calculated (GrossValueAdded - OpEx) is shown for reconciliation only; the canonical displayed GrossOpSurplus is the value reported directly by BEA.
Source: U.S. Bureau of Economic Analysis (BEA), National Income and Product Accounts / GDP-by-Industry data, retrieved via the BEA API.