AgentSkillsCN

income-statement-analysis

分析损益表（P&L 报表），全面评估公司的财务表现。适用于评估收入质量、各类利润率（毛利、营业利润、净利润）、费用结构、盈利趋势，或与竞争对手的财务表现进行横向比较。触发词包括：损益表分析、P&L 复盘、利润率分析、收入分析、费用构成分解，或财务报表评估。

SKILL.md
--- frontmatter
name: income-statement-analysis
description: Analyze income statements (P&L statements) to assess company financial performance. Use when evaluating revenue quality, margins (gross, operating, net), expense structure, profitability trends, or comparing financial performance against competitors. Triggers on income statement analysis, P&L review, margin analysis, revenue analysis, expense breakdown, or financial statement evaluation.

Income Statement Analysis

Structured approach to analyzing a company's income statement based on the App Economy Insights methodology.

Analysis Workflow

1. Gather the Data

Obtain the income statement data:

  • •Quarterly (10-Q) or Annual (10-K) filings
  • •Multiple periods for trend analysis (minimum 4 quarters or 2-3 years)
  • •Competitor data for benchmarking

2. Analyze Revenue (Top Line)

Evaluate revenue quality:

  • •Recurring vs non-recurring: Does the company start fresh each year?
  • •Growth consistency: Sustainable patterns or volatile?
  • •Temporary factors: Identify tailwinds/headwinds affecting the period

3. Calculate Key Margins

code
Gross Margin = (Revenue - COGS) / Revenue
Operating Margin = Operating Income / Revenue
Net Margin = Net Income / Revenue
EPS = Net Income / Outstanding Shares

For formulas and benchmarks: See references/metrics-formulas.md

4. Assess Operating Expenses

Break down OPEX as percentage of revenue:

  • •S&M %: Sales efficiency (declining = good operating leverage)
  • •R&D %: Innovation investment level
  • •G&A %: Administrative overhead
  • •D&A: Capital intensity indicator

5. Compare Across Time

Look for these signals over multiple periods:

  • •Revenue growth vs peers (market share)
  • •Gross margin stability (unit economics)
  • •Operating margin improvement (operating leverage)
  • •S&M efficiency gains (scalability)

6. Benchmark Against Competitors

Compare metrics to direct competitors in same industry. Context matters—Amazon's 2% operating margin is excellent for retail, weak for software.

7. Evaluate GAAP vs Non-GAAP

If company reports adjusted metrics:

  • •Identify what's excluded
  • •Question stock-based compensation exclusions
  • •GAAP metrics are the only ones that matter long-term

For complete checklist: See references/analysis-framework.md

Output Structure

Present analysis as:

  1. •Revenue Assessment: Quality, growth, sustainability
  2. •Margin Analysis: Gross → Operating → Net with trends
  3. •Expense Efficiency: OPEX breakdown and trends
  4. •Competitive Position: vs peers
  5. •Key Risks/Red Flags: Any concerns identified
  6. •Summary: Overall financial health assessment