Financials in USD. Standardized financial statements.
A compact view of how Vanguard Total Bond Market Index Fund Institutional Shares turns revenue into operating income and net income.
| Metric | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $6.06B | $5.69B | $3.23B | $2.39B | $2.63B | $2.38B | $1.86B | $1.66B | $1.79B | $1.66B |
| Revenue Growth? | +6.6% | +76.2% | +34.8% | -8.9% | +10.4% | +28.1% | +11.8% | -7.4% | +8.2% | 0.0% |
| Cost of Revenue? | $5.44B | $5.19B | $2.90B | $2.05B | $1.67B | $1.54B | $1.11B | $870.12M | $1.22B | $1.54B |
| Gross Profit? | $621.94M | $491.40M | $325.52M | $348.92M | $958.78M | $837.56M | $745.90M | $791.50M | $572.45M | $117.13M |
| Gross Margin? | +10.3% | +8.6% | +10.1% | +14.6% | +36.5% | +35.2% | +40.1% | +47.6% | +31.9% | +7.1% |
| Operating Expenses? | $297.07M | $248.46M | $174.70M | $187.73M | $845.07M | $757.10M | $684.60M | $730.56M | $502.07M | $66.85M |
| Operating Income? | $324.95M | $243.08M | $151.18M | $161.38M | $112.94M | $80.37M | $58.87M | $59.39M | $68.28M | $50.28M |
| EBITDA? | $384.41M | $297.67M | $194.55M | $203.24M | $152.03M | $114.32M | $85.75M | $80.81M | $81.04M | $61.17M |
| Income Before Tax | $240.83M | $221.74M | $152.29M | $153.75M | $94.51M | $60.87M | $45.55M | $37.28M | $60.36M | $44.44M |
| Income Tax Expense | $69.65M | $61.93M | $44.33M | $39.51M | $24.81M | $17.60M | $12.91M | $13.88M | $13.64M | $11.58M |
| Net Income? | $171.19M | $159.81M | $107.97M | $114.23M | $69.70M | $47.11M | $34.87M | $30.28M | $46.80M | $32.00M |
| EPS? | $1.53 | $1.43 | $0.97 | $1.02 | $0.62 | $0.42 | $0.31 | $0.27 | $0.42 | $0.29 |
| Diluted EPS? | $1.53 | $1.43 | $0.97 | $1.02 | $0.62 | $0.42 | $0.31 | $0.27 | $0.42 | $0.29 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality