What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Regions Financial (RF) revenue becomes net income?

For TTM through Q2 2026, Regions Financial turned $9.57B of revenue into $2.23B of net income — a net margin of 23.3%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Regions Financial (RF) gross, operating, and net margins?

For TTM through Q2 2026, Regions Financial reported a gross margin of 76.8%, an operating margin of 29.8%, and a net margin of 23.3%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Regions Financial (RF) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Regions Financial (RF) Income Statement Waterfall

Revenue

$9.57B

Gross Margin

+76.8%

Operating Margin

+29.8%

Net Margin

+23.3%

Income statement waterfall for Regions Financial (RF) — TTM through Q2 2026

Net income: $2.23B

Margin breakdown for Regions Financial (RF) — TTM through Q2 2026

Line item	Amount	Running total
Revenue	$9.57B	$9.57B
Cost of Revenue	-$2.22B	$7.35B
Gross Profit	$7.35B	$7.35B
Operating Expenses	-$4.51B	$2.85B
Operating Income	$2.85B	$2.85B
Pre-tax Income	$2.85B	$2.85B
Income Tax	-$616M	$2.23B
Net Income	$2.23B	$2.23B

Revenue$9.57B
Cost of Revenue-$2.22B
Gross Profit$7.35B
Operating Expenses-$4.51B
Operating Income$2.85B
Pre-tax Income$2.85B
Income Tax-$616M
Net Income$2.23B

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