Revenue Analysis
Total Revenue has depicted a trend from Q4 being the highest at approximately 1.422 billion dollars decreasing progressively back to 1.027 billion dollars in Q1. Operating Revenue similarly followed this trend indicating that much of the revenue is from core operations. Gross Profit in Q4 was calculated at 694 million dollars decreasing to 505 million in Q1, consistently indicative of a decreasing trend.
Cost Management
The Cost of Revenue was highest in Q4 at 728 million dollars, and lowest in Q1 post which it increased across Q2 to Q4. Operating Expenses peaked in Q4 at 328 million dollars compared to a lower 272 million in Q1. Total Expenses were highest in Q4 at 1.056 billion indicating scaled operations towards year-end.
Profitability Analysis
EBITDA stood highest in Q1 at 739.4 million but later decreased across Q2 to Q4, highlighting potentially higher operational efficiency or reduced costs earlier in the year. Operating Income and Pretax Income followed a similar decreasing trend post-Q1. Net Income peaked in Q1 at 333 million dollars, significantly higher than other quarters.
Cash Flow Indicators
Reconciled Depreciation was highest in Q4 at 257.3 million dollars indicating substantial depreciation taken during the period. Interest Expense peaked in Q1 at 108.9 million dollars but subsequently decreased slightly across the year.
Taxation
The Tax Rate showed fluctuations, with the highest rate in Q1 at 20.3% and the lowest in Q1 at 3.7%. Tax Provisions were highest in Q1 at 85.8 million dollars, suggesting higher earnings before tax. The Tax Effect of Unusual Items was profoundly negative in Q4, significantly impacting reported taxable income.
Shareholder Metrics
Diluted EPS was highest in Q2 at 0.71 and lowest in Q1 at 0.17, reflecting fluctuating profitability across the year. Total shares showed a slight increasing trend indicating possible issuances or dilutions. Net Income Available to Common Stockholders peaked in Q1 at 319.2 million dollars largely aligning with net income trends.
Conclusion
The analysis of NI’s financials over the past year shows a strong performance in the beginning of the year with profitability metrics like Net Income, EBITDA, and Operating Income demonstrating peaks in Q1. However, these tend to decline as the year progresses. Revenue and costs indicate heavy activity towards year-end yet it doesn’t translate equivalently into net profitability. Future strategies could potentially focus on improving the cost efficiency continually throughout the year and not just in the start. Tax management also seems variable and could be optimized better to reduce liabilities in tighter quarters.