GuruFocus is proud to announce improvements to its 30-year financials pages, which now include segment data for stocks.
According to Investopedia, companies may break down their financial data into several divisions, subsidiaries and/or other business segments. Company management can evaluate revenue, expenses, assets and liabilities for each business division to measure financial strength and profitability of each segment.
Investors can also study a company’s segment data to research trends among a company’s product lines and geographic regions. For example, Apple Inc. (AAPL) breaks down its revenues into product lines like iPhone and services.
Access
The “Segments Data” section is located on the 30-year financials pages. Start by searching for the desired stock using the GuruFocus Search bar and then clicking on the “Financial” button.
Users can click on the “Segments Data” button to view the company’s segment data breakdown on the 30-year financials page.
For each business segment, users can click on the “Trend” chart to view the segment revenue data as a chart. The charts include both quarterly and annual segment data.
As the charts illustrate, Apple’s iPhone sales slightly declined from the year ending September 2018 to the year ending September 2020 but then increased during the past two years with a positive trend over the five-year period.
Apple’s other business segments include: wearables, home and accessories; services; Mac; and iPad. While most of the company’s business segments saw growth in 2022, iPad sales declined from approximately $31.8 billion in September 2021 to approximately $29.29 billion in September 2022.
The Cupertino, California-based tech giant also breaks down its segment data into geographic segments, including the U.S., Europe, America ex. U.S., Greater China, Japan and Rest of Asia Pacific.
For example, users can now see that Apple’s sales in the U.S. increased approximately 11% per year over the past five years.
On the other hand, the company’s sales in Japan declined from approximately $28.48 billion in September 2021 to $25.98 billion in September 2022.
Different sectors may have different types of segment data
While geographic segments are generally uniform across sectors, a technology company’s business segments may differ from that of a bank. For example, Bank of America’s (BAC) business segments include consumer banking, global banking, global markets and global wealth and investment management.
For the quarter ending September 2022, consumer banking represented a large chunk of Bank of America’s total revenue at $9.904 billion.
While the bank’s consumer banking revenues increased over the past five quarters, Bank of America’s revenues for the global markets segment declined from approximately $6.2 billion in March 2021 to approximately $4.48 billion in September 2022.
Likewise, New York-based investment bank Goldman Sachs Group Inc. (GS)’s business segments include investment banking, global markets, consumer and wealth management and asset management.
Goldman Sachs announced in January 2020 that it changed its segment data reporting, including the renaming of institutional client services to global markets and investment management to asset management. The segment data keeps the past segments for completeness.
For the year ending December 2021, Goldman Sachs’ global market revenues were approximately $22.07 billion, up from the previous-year revenues of $21.15 billion. Despite this, global market revenues have declined during the June 2022 and September 2022 quarters.
Although the company’s investment banking revenues totaled $14.876 billion during December 2021, Goldman Sachs’ investment banking revenues were just $9.92 billion during the 12-month period from September 2021 to September 2022. Additionally, revenues have declined each quarter since September 2021.
Walmart
Companies may also report individual businesses as business segments. For example, Walmart’s business segments include Walmart US, Walmart International, Sam’s Club and membership and other income.
For the fiscal year ending January 2022, the Bentonville, Arkansas-based retail giant reported $73.56 billion in revenue for its Sam’s Club business. The business segment’s revenue has increased by approximately 3% per year on average over the past five years.
Although Walmart International revenues increased during the three-month period ending October, revenues for Walmart US and Sam’s Club declined during the said period. Additionally, Walmart International’s revenues have declined approximately 1.76% per year on average over the past five years.
Wynn Resorts
Wynn Resorts Ltd. (WYNN) announced in November 2020 that the company launched its Wynn Interactive business as a new business segment. The Las Vegas-based casino operator’s other geographic segments include Wynn Macau, Las Vegas Operations, Wynn Palace and Encore Boston Harbor.
Wynn reported approximately 59 million in revenue for Wynn Interactive for the year ending December 2021.
Wynn also reports its segment data based on different types of operations, including casino, entertainment, food and beverage and rooms. Although casino revenues topped approximately $2.1 billion during the year ending December 2021, casino revenues declined to approximately $1.7 billion over the trailing 12 months.
On the other hand, Wynn’s food and beverage revenues increased from approximately $633 million during the year ending December 2021 to approximately $827 million over the trailing 12 months.
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