Dovalue SpA
MIL:DOV
Income Statement
Earnings Waterfall
Dovalue SpA
Income Statement
Dovalue SpA
| Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||
| Interest Expense |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
8
|
0
|
0
|
0
|
18
|
0
|
0
|
0
|
32
|
0
|
0
|
0
|
28
|
0
|
0
|
0
|
28
|
0
|
0
|
0
|
32
|
0
|
0
|
0
|
|
| Revenue |
0
N/A
|
0
-50%
|
0
+100%
|
1
+150%
|
1
+40%
|
1
+57%
|
107
+9 618%
|
163
+53%
|
237
+45%
|
290
+23%
|
242
-17%
|
307
+27%
|
367
+19%
|
395
+8%
|
419
+6%
|
415
-1%
|
422
+2%
|
457
+8%
|
507
+11%
|
522
+3%
|
565
+8%
|
576
+2%
|
585
+1%
|
607
+4%
|
560
-8%
|
530
-5%
|
517
-2%
|
471
-9%
|
482
+2%
|
480
0%
|
472
-2%
|
463
-2%
|
484
+5%
|
523
+8%
|
548
+5%
|
571
+4%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(4)
|
(19)
|
(13)
|
(17)
|
(27)
|
(36)
|
(43)
|
(49)
|
(46)
|
(46)
|
(48)
|
(54)
|
(56)
|
(57)
|
(56)
|
(56)
|
(53)
|
(46)
|
(39)
|
(31)
|
(26)
|
(25)
|
(25)
|
(23)
|
(22)
|
(23)
|
(24)
|
(26)
|
(30)
|
|
| Gross Profit |
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
159
N/A
|
218
+37%
|
277
+27%
|
225
-19%
|
280
+25%
|
331
+18%
|
323
-2%
|
350
+8%
|
382
+9%
|
376
-1%
|
409
+9%
|
454
+11%
|
466
+3%
|
509
+9%
|
520
+2%
|
529
+2%
|
554
+5%
|
514
-7%
|
490
-5%
|
486
-1%
|
444
-8%
|
457
+3%
|
456
0%
|
449
-2%
|
441
-2%
|
461
+5%
|
499
+8%
|
522
+5%
|
541
+4%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(79)
|
(95)
|
(108)
|
(116)
|
(110)
|
(109)
|
(129)
|
(140)
|
(132)
|
(163)
|
(147)
|
(204)
|
(239)
|
(296)
|
(335)
|
(341)
|
(319)
|
(375)
|
(393)
|
(394)
|
(399)
|
(440)
|
(435)
|
(437)
|
(397)
|
(392)
|
(389)
|
(375)
|
(365)
|
(396)
|
(394)
|
(391)
|
(380)
|
(415)
|
(434)
|
(452)
|
|
| Selling, General & Administrative |
(98)
|
(112)
|
(126)
|
(133)
|
(128)
|
(128)
|
(124)
|
(131)
|
(129)
|
(140)
|
(140)
|
(169)
|
(190)
|
(220)
|
(254)
|
(258)
|
(240)
|
(289)
|
(309)
|
(320)
|
(299)
|
(335)
|
(334)
|
(340)
|
(331)
|
(318)
|
(314)
|
(299)
|
(304)
|
(308)
|
(307)
|
(310)
|
(320)
|
(340)
|
(355)
|
(364)
|
|
| Depreciation & Amortization |
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
(2)
|
(3)
|
(4)
|
(5)
|
(34)
|
(40)
|
(63)
|
(81)
|
(81)
|
(79)
|
(83)
|
(82)
|
(72)
|
(91)
|
(93)
|
(88)
|
(86)
|
(70)
|
(70)
|
(72)
|
(66)
|
(66)
|
(42)
|
0
|
(28)
|
(62)
|
(51)
|
(71)
|
(76)
|
|
| Other Operating Expenses |
19
|
19
|
19
|
19
|
20
|
21
|
(3)
|
(7)
|
(0)
|
(18)
|
(1)
|
(1)
|
(8)
|
(14)
|
(0)
|
(1)
|
0
|
(3)
|
(2)
|
(1)
|
(9)
|
(13)
|
(12)
|
(11)
|
4
|
(4)
|
(3)
|
(10)
|
5
|
(45)
|
(88)
|
(54)
|
1
|
(23)
|
(8)
|
(11)
|
|
| Operating Income |
(79)
N/A
|
(94)
-20%
|
(108)
-15%
|
(115)
-7%
|
(109)
+6%
|
(108)
+0%
|
(22)
+79%
|
20
N/A
|
86
+332%
|
114
+34%
|
78
-32%
|
76
-2%
|
92
+21%
|
56
-39%
|
35
-38%
|
28
-21%
|
57
+104%
|
34
-39%
|
60
+76%
|
72
+19%
|
110
+52%
|
80
-27%
|
94
+17%
|
117
+25%
|
117
0%
|
98
-16%
|
97
-2%
|
69
-28%
|
92
+32%
|
60
-35%
|
54
-10%
|
50
-9%
|
81
+64%
|
84
+4%
|
87
+4%
|
90
+3%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
0
|
0
|
0
|
0
|
0
|
2
|
3
|
3
|
0
|
0
|
2
|
(2)
|
2
|
(8)
|
(12)
|
(14)
|
(20)
|
(26)
|
(29)
|
(35)
|
(22)
|
(24)
|
(26)
|
(23)
|
(49)
|
(52)
|
(52)
|
(50)
|
(28)
|
(36)
|
(32)
|
(37)
|
(33)
|
(47)
|
(56)
|
(56)
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(9)
|
(0)
|
(13)
|
(13)
|
(21)
|
0
|
0
|
0
|
(33)
|
0
|
0
|
0
|
(41)
|
0
|
0
|
0
|
(6)
|
0
|
0
|
0
|
(29)
|
0
|
(3)
|
(4)
|
(21)
|
0
|
0
|
0
|
|
| Total Other Income |
154
|
169
|
185
|
184
|
177
|
176
|
91
|
58
|
1
|
(35)
|
(0)
|
(2)
|
(3)
|
(2)
|
0
|
0
|
(7)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(9)
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
|
| Pre-Tax Income |
75
N/A
|
75
-1%
|
77
+3%
|
69
-11%
|
68
-1%
|
70
+2%
|
71
+3%
|
81
+13%
|
78
-3%
|
81
+3%
|
67
-18%
|
59
-11%
|
69
+17%
|
46
-34%
|
21
-55%
|
12
-40%
|
(2)
N/A
|
8
N/A
|
31
+295%
|
37
+18%
|
47
+27%
|
55
+19%
|
67
+21%
|
94
+40%
|
61
-35%
|
47
-24%
|
45
-4%
|
20
-56%
|
26
+31%
|
24
-8%
|
19
-20%
|
9
-55%
|
25
+189%
|
37
+48%
|
31
-14%
|
34
+7%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||
| Tax Provision |
(23)
|
(22)
|
(22)
|
(23)
|
(23)
|
(23)
|
(25)
|
(28)
|
(27)
|
(29)
|
(33)
|
(28)
|
(28)
|
(23)
|
(10)
|
(11)
|
(31)
|
(32)
|
(32)
|
(34)
|
(14)
|
(16)
|
(19)
|
(29)
|
(35)
|
(33)
|
(38)
|
(32)
|
(40)
|
(41)
|
(20)
|
(17)
|
(11)
|
(12)
|
(32)
|
(32)
|
|
| Income from Continuing Operations |
53
|
52
|
55
|
46
|
45
|
46
|
47
|
53
|
51
|
52
|
34
|
31
|
41
|
23
|
11
|
2
|
(34)
|
(24)
|
(1)
|
3
|
33
|
40
|
48
|
65
|
26
|
13
|
7
|
(12)
|
(14)
|
(17)
|
(1)
|
(8)
|
14
|
25
|
(1)
|
2
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(3)
|
(1)
|
(0)
|
2
|
3
|
1
|
(3)
|
(4)
|
(9)
|
(10)
|
(11)
|
(15)
|
(10)
|
(9)
|
(8)
|
(5)
|
(4)
|
(5)
|
(5)
|
(5)
|
(12)
|
(17)
|
(17)
|
(18)
|
|
| Net Income (Common) |
52
N/A
|
51
-2%
|
54
+6%
|
45
-17%
|
45
-1%
|
46
+3%
|
47
+0%
|
53
+14%
|
51
-4%
|
52
+2%
|
34
-35%
|
29
-13%
|
38
+30%
|
22
-43%
|
11
-51%
|
4
-67%
|
(30)
N/A
|
(24)
+22%
|
(4)
+85%
|
(1)
+63%
|
24
N/A
|
29
+24%
|
37
+27%
|
50
+34%
|
17
-67%
|
5
-70%
|
(2)
N/A
|
(17)
-1 023%
|
(18)
-8%
|
(22)
-21%
|
(7)
+70%
|
(13)
-100%
|
2
N/A
|
8
+322%
|
(18)
N/A
|
(16)
+9%
|
|
| EPS (Diluted) |
0.67
N/A
|
0.66
-1%
|
0.7
+6%
|
0.58
-17%
|
0.58
N/A
|
0.58
N/A
|
0.59
+2%
|
0.67
+14%
|
0.63
-6%
|
0.67
+6%
|
0.41
-39%
|
0.4
-2%
|
0.48
+20%
|
0.28
-42%
|
0.13
-54%
|
0.03
-77%
|
-0.38
N/A
|
-0.3
+21%
|
-0.03
+90%
|
-0.01
+67%
|
0.3
N/A
|
0.37
+23%
|
0.47
+27%
|
0.64
+36%
|
0.12
-81%
|
0.05
-58%
|
0
N/A
|
-0.22
N/A
|
-1.16
-427%
|
-0.48
+59%
|
-0.14
+71%
|
-0.29
-107%
|
0.08
N/A
|
0.05
-38%
|
-0.09
N/A
|
-0.08
+11%
|
|