Taro Pharmaceutical Industries Ltd
NYSE:TARO
Income Statement
Earnings Waterfall
Taro Pharmaceutical Industries Ltd
Revenue
|
610.8m
USD
|
Cost of Revenue
|
-317.5m
USD
|
Gross Profit
|
293.3m
USD
|
Operating Expenses
|
-271.3m
USD
|
Operating Income
|
22m
USD
|
Other Expenses
|
23.6m
USD
|
Net Income
|
45.6m
USD
|
Income Statement
Taro Pharmaceutical Industries Ltd
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | 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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
737
N/A
|
759
+3%
|
736
-3%
|
782
+6%
|
806
+3%
|
863
+7%
|
948
+10%
|
909
-4%
|
930
+2%
|
951
+2%
|
969
+2%
|
986
+2%
|
948
-4%
|
879
-7%
|
807
-8%
|
748
-7%
|
683
-9%
|
662
-3%
|
655
-1%
|
644
-2%
|
665
+3%
|
670
+1%
|
677
+1%
|
679
+0%
|
650
-4%
|
645
-1%
|
601
-7%
|
583
-3%
|
575
-1%
|
549
-5%
|
578
+5%
|
568
-2%
|
566
0%
|
561
-1%
|
571
+2%
|
570
0%
|
570
+0%
|
573
+1%
|
575
+0%
|
593
+3%
|
611
+3%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(179)
|
(179)
|
(178)
|
(185)
|
(188)
|
(186)
|
(185)
|
(174)
|
(174)
|
(170)
|
(177)
|
(187)
|
(196)
|
(208)
|
(202)
|
(195)
|
(195)
|
(198)
|
(208)
|
(214)
|
(220)
|
(224)
|
(229)
|
(238)
|
(233)
|
(245)
|
(238)
|
(240)
|
(254)
|
(252)
|
(269)
|
(278)
|
(274)
|
(268)
|
(274)
|
(287)
|
(300)
|
(305)
|
(324)
|
(316)
|
(318)
|
|
Gross Profit |
558
N/A
|
580
+4%
|
559
-4%
|
597
+7%
|
618
+4%
|
677
+9%
|
763
+13%
|
736
-4%
|
756
+3%
|
781
+3%
|
792
+1%
|
799
+1%
|
752
-6%
|
672
-11%
|
605
-10%
|
553
-9%
|
488
-12%
|
464
-5%
|
447
-4%
|
431
-4%
|
445
+3%
|
446
+0%
|
447
+0%
|
440
-2%
|
417
-5%
|
400
-4%
|
363
-9%
|
343
-6%
|
322
-6%
|
297
-8%
|
309
+4%
|
290
-6%
|
293
+1%
|
293
+0%
|
297
+1%
|
282
-5%
|
270
-4%
|
268
-1%
|
251
-7%
|
277
+11%
|
293
+6%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(142)
|
(147)
|
(151)
|
(150)
|
(147)
|
(153)
|
(153)
|
(161)
|
(167)
|
(164)
|
(166)
|
(159)
|
(157)
|
(156)
|
(155)
|
(156)
|
(157)
|
(159)
|
(159)
|
(154)
|
(154)
|
(153)
|
(146)
|
(155)
|
(152)
|
(153)
|
(155)
|
(157)
|
(157)
|
(152)
|
(153)
|
(149)
|
(151)
|
(168)
|
(199)
|
(217)
|
(240)
|
(251)
|
(255)
|
(270)
|
(271)
|
|
Selling, General & Administrative |
(87)
|
(92)
|
(93)
|
(93)
|
(92)
|
(88)
|
(88)
|
(90)
|
(92)
|
(92)
|
(92)
|
(89)
|
(86)
|
(86)
|
(88)
|
(85)
|
(87)
|
(88)
|
(88)
|
(88)
|
(91)
|
(90)
|
(86)
|
(91)
|
(88)
|
(93)
|
(96)
|
(96)
|
(98)
|
(91)
|
(93)
|
(93)
|
(95)
|
(114)
|
(146)
|
(164)
|
(190)
|
(198)
|
(198)
|
(210)
|
(211)
|
|
Research & Development |
(54)
|
(55)
|
(58)
|
(57)
|
(55)
|
(66)
|
(65)
|
(70)
|
(75)
|
(71)
|
(74)
|
(71)
|
(71)
|
(71)
|
(67)
|
(71)
|
(70)
|
(70)
|
(69)
|
(66)
|
(63)
|
(63)
|
(63)
|
(64)
|
(64)
|
(60)
|
(59)
|
(60)
|
(59)
|
(60)
|
(60)
|
(56)
|
(56)
|
(55)
|
(53)
|
(52)
|
(51)
|
(52)
|
(57)
|
(60)
|
(60)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
4
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
417
N/A
|
433
+4%
|
407
-6%
|
448
+10%
|
471
+5%
|
523
+11%
|
610
+17%
|
575
-6%
|
589
+2%
|
618
+5%
|
626
+1%
|
640
+2%
|
595
-7%
|
515
-13%
|
450
-13%
|
397
-12%
|
332
-16%
|
305
-8%
|
289
-5%
|
276
-4%
|
292
+5%
|
293
+0%
|
302
+3%
|
286
-5%
|
265
-7%
|
247
-7%
|
208
-16%
|
186
-10%
|
164
-12%
|
145
-12%
|
156
+8%
|
141
-10%
|
142
+0%
|
125
-12%
|
98
-22%
|
66
-33%
|
30
-55%
|
18
-41%
|
(4)
N/A
|
7
N/A
|
22
+197%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
9
|
12
|
6
|
14
|
21
|
51
|
54
|
84
|
100
|
20
|
18
|
(3)
|
(8)
|
35
|
22
|
(23)
|
(37)
|
(13)
|
20
|
52
|
82
|
59
|
59
|
64
|
37
|
49
|
38
|
36
|
26
|
20
|
15
|
11
|
11
|
10
|
9
|
8
|
14
|
18
|
29
|
40
|
49
|
|
Non-Reccuring Items |
(25)
|
(3)
|
4
|
4
|
4
|
4
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(2)
|
(2)
|
0
|
2
|
4
|
4
|
0
|
(0)
|
(0)
|
0
|
(479)
|
(479)
|
(479)
|
(559)
|
(140)
|
(141)
|
(141)
|
(62)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
(0)
|
|
Total Other Income |
2
|
1
|
1
|
3
|
3
|
3
|
3
|
2
|
2
|
3
|
3
|
3
|
11
|
11
|
13
|
11
|
2
|
2
|
0
|
2
|
2
|
2
|
2
|
3
|
2
|
3
|
3
|
3
|
4
|
3
|
3
|
4
|
4
|
4
|
4
|
2
|
2
|
3
|
3
|
3
|
4
|
|
Pre-Tax Income |
403
N/A
|
444
+10%
|
419
-6%
|
468
+12%
|
499
+7%
|
582
+17%
|
664
+14%
|
658
-1%
|
688
+5%
|
637
-7%
|
643
+1%
|
639
-1%
|
598
-6%
|
561
-6%
|
485
-14%
|
385
-21%
|
296
-23%
|
292
-1%
|
309
+6%
|
332
+7%
|
380
+15%
|
357
-6%
|
362
+1%
|
353
-3%
|
304
-14%
|
298
-2%
|
(230)
N/A
|
(254)
-10%
|
(285)
-12%
|
(391)
-37%
|
34
N/A
|
15
-57%
|
15
+3%
|
78
+419%
|
110
+41%
|
76
-31%
|
45
-40%
|
38
-16%
|
28
-28%
|
50
+82%
|
74
+48%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(81)
|
(83)
|
(71)
|
(72)
|
(77)
|
(96)
|
(121)
|
(126)
|
(109)
|
(95)
|
(96)
|
(101)
|
(110)
|
(104)
|
(83)
|
(55)
|
(89)
|
(82)
|
(86)
|
(98)
|
(70)
|
(75)
|
(81)
|
(78)
|
(55)
|
(54)
|
(42)
|
(29)
|
(33)
|
(10)
|
(4)
|
(6)
|
(13)
|
(20)
|
(19)
|
(11)
|
1
|
(13)
|
(6)
|
(17)
|
(29)
|
|
Income from Continuing Operations |
322
|
361
|
349
|
396
|
423
|
486
|
543
|
533
|
579
|
542
|
548
|
538
|
489
|
457
|
402
|
330
|
207
|
211
|
223
|
233
|
310
|
282
|
281
|
275
|
249
|
245
|
(272)
|
(283)
|
(318)
|
(401)
|
30
|
9
|
2
|
58
|
91
|
65
|
46
|
25
|
21
|
33
|
46
|
|
Income to Minority Interest |
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
1
|
1
|
1
|
1
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
15
|
15
|
15
|
14
|
(1)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
320
N/A
|
360
+13%
|
348
-4%
|
395
+14%
|
422
+7%
|
484
+15%
|
542
+12%
|
532
-2%
|
578
+9%
|
541
-6%
|
547
+1%
|
538
-2%
|
488
-9%
|
456
-7%
|
401
-12%
|
330
-18%
|
208
-37%
|
211
+2%
|
224
+6%
|
234
+5%
|
310
+32%
|
282
-9%
|
281
0%
|
274
-2%
|
249
-9%
|
244
-2%
|
(257)
N/A
|
(268)
-4%
|
(303)
-13%
|
(387)
-28%
|
29
N/A
|
8
-74%
|
1
-87%
|
58
+5 730%
|
91
+56%
|
65
-29%
|
46
-29%
|
25
-45%
|
21
-16%
|
33
+53%
|
46
+39%
|
|
EPS (Diluted) |
7.15
N/A
|
8.15
+14%
|
8.12
0%
|
9.22
+14%
|
9.85
+7%
|
11.32
+15%
|
12.65
+12%
|
12.42
-2%
|
13.5
+9%
|
12.63
-6%
|
12.9
+2%
|
13.01
+1%
|
11.91
-8%
|
11.06
-7%
|
9.9
-10%
|
8.18
-17%
|
5.18
-37%
|
5.27
+2%
|
5.69
+8%
|
5.97
+5%
|
7.96
+33%
|
7.23
-9%
|
7.29
+1%
|
7.12
-2%
|
6.46
-9%
|
6.35
-2%
|
-6.7
N/A
|
-7.01
-5%
|
-7.91
-13%
|
-10.12
-28%
|
0.76
N/A
|
0.2
-74%
|
0.04
-80%
|
1.55
+3 775%
|
2.42
+56%
|
1.73
-29%
|
1.22
-29%
|
0.68
-44%
|
0.57
-16%
|
0.87
+53%
|
1.22
+40%
|