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Jan Dawson
Chief Analyst
(408) 744-6244
jan@jackdawresearch.com
@jandawson
THE “BIG 6” COMPARISONS
FOR Q2 2017
AMAZON, APPLE, FACEBOOK, GOOGLE,
MICROSOFT, AND SAMSUNG
2
• This deck is part of the Jackdaw Research Quarterly Company Decks
subscription service, and is one of about a dozen similar decks produced
each quarter on major consumer tech companies
• The intention is to highlight trends and patterns which are not always obvious
when merely looking at a spreadsheet
• Accompanying analysis can often be found on our blog at
www.beyonddevic.es
• This is the base tier of a three-tier offering, with higher-priced services
offering access to the underlying data and custom presentations and analysis
• For more information, please visit:

https://jackdawresearch.com/quarterly-company-decks/
INTRODUCTION
JACKDAW RESEARCH QUARTERLY DECKS SERVICE
3
The charts in this deck are based on the companies’
reported financial and operating metrics, together with
other metrics derived from them by Jackdaw Research.
While every effort has been made to ensure the
accuracy of the data presented, and the absence of
errors, we make no guarantee of accuracy and accept
no liability for decisions made based on the information
contained in this document. Readers should always
consult the source documents if making financial or
other decisions regarding the company concerned.
DISCLAIMER
4
• The “big 6” companies chosen for this deck are a funny mix.
They’re not strictly speaking the largest six consumer
technology companies, though five of them are near the top
• But they’re among the most diverse and far-reaching
companies, with the broadest ambitions within consumer
technology, and that’s why they’ve been chosen
• Facebook is by far the smallest of these, but also one of the
fastest-growing and among the most profitable, hence its
inclusion here
THE “BIG 6”
5
• These comparisons are based on publicly available
information from the companies included, with a handful of
data points estimated for completeness
• Samsung and has an enormously complex structure including
many subsidiaries, making it very difficult to reach a sensible
conclusion on the number of employees it has. As such, it has
been excluded from any analysis involving headcount
• Apple only provides headcount figures in its annual 10-K
filings. As such, headcount figures for Apple for several
quarters have been estimated
NOTES
6 Source: Company reporting, Jackdaw Research analysis
REVENUES
TOTAL, US$ MILLIONS
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
7 Source: Company reporting, Jackdaw Research analysis
REVENUES
TRAILING 4 QUARTERS, US$ MILLIONS
0
50,000
100,000
150,000
200,000
250,000
300,000
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
8 Source: Company reporting, Jackdaw Research analysis
REVENUES
YEAR ON YEAR GROWTH, %
-20%
0%
20%
40%
60%
80%
Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
9 Source: Company reporting, Jackdaw Research analysis
REVENUES
YEAR ON YEAR GROWTH IN TRAILING 4 QUARTER REVENUE, $M
-30,000
-15,000
0
15,000
30,000
45,000
60,000
Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017
Alphabet Amazon Apple
Facebook Microsoft Samsung
10 Source: Company reporting, Jackdaw Research analysis
OPERATING PROFIT
US$ MILLIONS
-5,000
0
5,000
10,000
15,000
20,000
25,000
Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
11 Source: Company reporting, Jackdaw Research analysis
OPERATING PROFIT
TRAILING 4 QUARTERS, US$M
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon Apple
Facebook Microsoft Samsung
12 Source: Company reporting, Jackdaw Research analysis
OPERATING MARGINS
TRAILING 4 QUARTERS
0%
10%
20%
30%
40%
50%
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
13 Source: Company reporting, Jackdaw Research analysis
NET PROFIT
US$ MILLIONS
-5,000
0
5,000
10,000
15,000
20,000
Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
14 Source: Company reporting, Jackdaw Research analysis
NET PROFIT
TRAILING 4 QUARTERS, US$ MILLIONS
-10,000
0
10,000
20,000
30,000
40,000
50,000
60,000
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon Apple
Facebook Microsoft Samsung
15 Source: Company reporting, Jackdaw Research analysis
NET MARGINS
TRAILING 4 QUARTERS
-10%
0%
10%
20%
30%
40%
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
16 Source: Company reporting, Jackdaw Research analysis
CAPITAL EXPENDITURES
US$ MILLIONS
0
2,000
4,000
6,000
8,000
10,000
12,000
Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Amazon
Apple Facebook
Microsoft Samsung
17 Source: Company reporting, Jackdaw Research analysis
CAPITAL EXPENDITURES
TRAILING 4 QUARTERS, US$ MILLIONS
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon Apple
Facebook Microsoft Samsung
18 Source: Company reporting, Jackdaw Research analysis
CAPITAL INTENSITY
CAPEX/REVENUES, TRAILING 4 QUARTERS
0%
5%
10%
15%
20%
25%
30%
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon Apple
Facebook Microsoft Samsung
19 Source: Company reporting, Jackdaw Research analysis
RESEARCH & DEVELOPMENT COSTS
R&D SPEND, QUARTERLY, $M
0
1,000
2,000
3,000
4,000
5,000
Q2 2012 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Apple
Facebook Microsoft
Samsung
20 Source: Company reporting, Jackdaw Research analysis
RESEARCH & DEVELOPMENT COSTS
R&D SPEND, TRAILING 4 QUARTERS, $M
0
4,000
8,000
12,000
16,000
Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Apple Facebook Microsoft Samsung
21 Source: Company reporting, Jackdaw Research analysis
RESEARCH & DEVELOPMENT COSTS
R&D SPEND, TRAILING 4 QUARTERS, AS % OF REVENUE
0%
5%
10%
15%
20%
25%
30%
Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Apple
Facebook Microsoft
Samsung
22 Source: Company reporting, Jackdaw Research analysis
HEADCOUNT
AS REPORTED, EXCEPT FOR APPLE IN NON-10-K QUARTERS
0
100,000
200,000
300,000
400,000
Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017
Alphabet Amazon
Apple Facebook
Microsoft
23 Source: Company reporting, Jackdaw Research analysis
REVENUE PER EMPLOYEE
TRAILING 4 QUARTERS, $US THOUSANDS
0
500
1,000
1,500
2,000
2,500
Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017
Alphabet Amazon Apple Facebook Microsoft
24 Source: Company reporting, Jackdaw Research analysis
REVENUE BY BUSINESS MODEL
TRAILING 4 QUARTERS, AS REPORTED, PLUS ESTIMATES
0%
25%
50%
75%
100%
Alphabet Amazon Apple Facebook Microsoft Samsung
Software & Services First-party hardware Third-party hardware Digital content (incl. apps)
Advertising General E-commerce Financial services Other
Jan Dawson
Chief Analyst
(408) 744-6244
jan@jackdawresearch.com
@jandawson
FOR ANY QUESTIONS,
PLEASE CONTACT:

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Comparisons of the Big Six Consumer Tech Companies in Q2 2017

  • 1. Jan Dawson Chief Analyst (408) 744-6244 jan@jackdawresearch.com @jandawson THE “BIG 6” COMPARISONS FOR Q2 2017 AMAZON, APPLE, FACEBOOK, GOOGLE, MICROSOFT, AND SAMSUNG
  • 2. 2 • This deck is part of the Jackdaw Research Quarterly Company Decks subscription service, and is one of about a dozen similar decks produced each quarter on major consumer tech companies • The intention is to highlight trends and patterns which are not always obvious when merely looking at a spreadsheet • Accompanying analysis can often be found on our blog at www.beyonddevic.es • This is the base tier of a three-tier offering, with higher-priced services offering access to the underlying data and custom presentations and analysis • For more information, please visit:
 https://jackdawresearch.com/quarterly-company-decks/ INTRODUCTION JACKDAW RESEARCH QUARTERLY DECKS SERVICE
  • 3. 3 The charts in this deck are based on the companies’ reported financial and operating metrics, together with other metrics derived from them by Jackdaw Research. While every effort has been made to ensure the accuracy of the data presented, and the absence of errors, we make no guarantee of accuracy and accept no liability for decisions made based on the information contained in this document. Readers should always consult the source documents if making financial or other decisions regarding the company concerned. DISCLAIMER
  • 4. 4 • The “big 6” companies chosen for this deck are a funny mix. They’re not strictly speaking the largest six consumer technology companies, though five of them are near the top • But they’re among the most diverse and far-reaching companies, with the broadest ambitions within consumer technology, and that’s why they’ve been chosen • Facebook is by far the smallest of these, but also one of the fastest-growing and among the most profitable, hence its inclusion here THE “BIG 6”
  • 5. 5 • These comparisons are based on publicly available information from the companies included, with a handful of data points estimated for completeness • Samsung and has an enormously complex structure including many subsidiaries, making it very difficult to reach a sensible conclusion on the number of employees it has. As such, it has been excluded from any analysis involving headcount • Apple only provides headcount figures in its annual 10-K filings. As such, headcount figures for Apple for several quarters have been estimated NOTES
  • 6. 6 Source: Company reporting, Jackdaw Research analysis REVENUES TOTAL, US$ MILLIONS 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 7. 7 Source: Company reporting, Jackdaw Research analysis REVENUES TRAILING 4 QUARTERS, US$ MILLIONS 0 50,000 100,000 150,000 200,000 250,000 300,000 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 8. 8 Source: Company reporting, Jackdaw Research analysis REVENUES YEAR ON YEAR GROWTH, % -20% 0% 20% 40% 60% 80% Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 9. 9 Source: Company reporting, Jackdaw Research analysis REVENUES YEAR ON YEAR GROWTH IN TRAILING 4 QUARTER REVENUE, $M -30,000 -15,000 0 15,000 30,000 45,000 60,000 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 10. 10 Source: Company reporting, Jackdaw Research analysis OPERATING PROFIT US$ MILLIONS -5,000 0 5,000 10,000 15,000 20,000 25,000 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 11. 11 Source: Company reporting, Jackdaw Research analysis OPERATING PROFIT TRAILING 4 QUARTERS, US$M 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 12. 12 Source: Company reporting, Jackdaw Research analysis OPERATING MARGINS TRAILING 4 QUARTERS 0% 10% 20% 30% 40% 50% Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 13. 13 Source: Company reporting, Jackdaw Research analysis NET PROFIT US$ MILLIONS -5,000 0 5,000 10,000 15,000 20,000 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 14. 14 Source: Company reporting, Jackdaw Research analysis NET PROFIT TRAILING 4 QUARTERS, US$ MILLIONS -10,000 0 10,000 20,000 30,000 40,000 50,000 60,000 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 15. 15 Source: Company reporting, Jackdaw Research analysis NET MARGINS TRAILING 4 QUARTERS -10% 0% 10% 20% 30% 40% Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 16. 16 Source: Company reporting, Jackdaw Research analysis CAPITAL EXPENDITURES US$ MILLIONS 0 2,000 4,000 6,000 8,000 10,000 12,000 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 17. 17 Source: Company reporting, Jackdaw Research analysis CAPITAL EXPENDITURES TRAILING 4 QUARTERS, US$ MILLIONS 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 18. 18 Source: Company reporting, Jackdaw Research analysis CAPITAL INTENSITY CAPEX/REVENUES, TRAILING 4 QUARTERS 0% 5% 10% 15% 20% 25% 30% Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft Samsung
  • 19. 19 Source: Company reporting, Jackdaw Research analysis RESEARCH & DEVELOPMENT COSTS R&D SPEND, QUARTERLY, $M 0 1,000 2,000 3,000 4,000 5,000 Q2 2012 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Apple Facebook Microsoft Samsung
  • 20. 20 Source: Company reporting, Jackdaw Research analysis RESEARCH & DEVELOPMENT COSTS R&D SPEND, TRAILING 4 QUARTERS, $M 0 4,000 8,000 12,000 16,000 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Apple Facebook Microsoft Samsung
  • 21. 21 Source: Company reporting, Jackdaw Research analysis RESEARCH & DEVELOPMENT COSTS R&D SPEND, TRAILING 4 QUARTERS, AS % OF REVENUE 0% 5% 10% 15% 20% 25% 30% Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Apple Facebook Microsoft Samsung
  • 22. 22 Source: Company reporting, Jackdaw Research analysis HEADCOUNT AS REPORTED, EXCEPT FOR APPLE IN NON-10-K QUARTERS 0 100,000 200,000 300,000 400,000 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016 Q1 2017 Alphabet Amazon Apple Facebook Microsoft
  • 23. 23 Source: Company reporting, Jackdaw Research analysis REVENUE PER EMPLOYEE TRAILING 4 QUARTERS, $US THOUSANDS 0 500 1,000 1,500 2,000 2,500 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Alphabet Amazon Apple Facebook Microsoft
  • 24. 24 Source: Company reporting, Jackdaw Research analysis REVENUE BY BUSINESS MODEL TRAILING 4 QUARTERS, AS REPORTED, PLUS ESTIMATES 0% 25% 50% 75% 100% Alphabet Amazon Apple Facebook Microsoft Samsung Software & Services First-party hardware Third-party hardware Digital content (incl. apps) Advertising General E-commerce Financial services Other
  • 25. Jan Dawson Chief Analyst (408) 744-6244 jan@jackdawresearch.com @jandawson FOR ANY QUESTIONS, PLEASE CONTACT: